As the bull run in Bitcoin regains momentum after the successful retest of the $65,000 mark, a fresh breeze of relief starts in the market. Amidst this recovery, the PEPE meme coin shows a potential price jump despite the ongoing correcction phase.
As the anticipation of a bounce back grows intense amognst the sideliners, the meme coin offers a discounted entry spot. Will the PEPE price reach $0.000015 this month? Find out more in our PEPE price prediction.
With a market wide slowdown, the meme coins like PEPE showcase a declining price trend. Despite the massive bull run earlier in March, the second half leads to quick fall in the bullish momentum.
The PEPE price drops by 33% to test the support zone at $0.0000063 from the peak of $0.000010. With the sharp increase in the selling pressure, the price action forms a descending trendline.
With the previous bull run in consideration, the pullback forms a bullish flag, known for a trend continuation theme. Further, the bounce back in Bitcoin and the upcoming Bitcoin halving cements the altcoin season possibility.
Currently, the PEPE token trades at a price of $0.0000067 with an intraday candle teasing a Doji formation. In the shorter-term, the meme coin hints at a morning star formation, known for igniting a bullish comeback.
Technical Indicators:
EMA: With an overall bullish trend, the 200 and 50-day EMA maintain a positive alignment. Currently, the 50D EMA provides dynamic support to the pullback, teasing a bounce back.
RSI: The daily RSI line declines below the halfway line, with the 14-day SMA providing dynamic resistance.
With multiple bullish catalysts, the chances of reversal are strong for the frog-themed meme coin. Therefore, the PEPE price could surpass the overhead resistance trendline for a sprint to the $0.000015 mark. However, the buyers must overcome the supply at the psychological mark of $0.000010.
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