Pepe Price Could Gain 30% in a Week After Pullback; Find Out How

• Pepe is a memecoin and ranks 9th in the cryptocurrency market in terms of volume.
• The Pepe coin price has surged by 100% since May, showing bulls’ strength.
• The PEPE price is at a crucial pullback level and is expected to gain 30% in a week.

The chart structure displays that the Pepe price has risen by taking support on a trendline. Since mid-April, the PEPE price has followed the trendline and has been up by 162%.

The digital asset price recorded an all-time high of $0.0000172 on May 27, 2024. However, the Pepe coin price has failed to sustain the high and witnessed profit booking. The price has declined by 33% in the last 2 weeks.

At press time, the Pepe price traded at $0.0000129 with an intraday gain of 1.81%. The market capitalization is $5.45 Billion, and the 24-hour trading volume is $1.27 Billion. Pepe coins are circulating 100% of its total supply in the cryptocurrency market.

Surge in Volume Help in Pullback

Based on the graph, the trading volume has increased by 50% in the past 2 days. The chart displays that the PEPE price has defended the trendline and shows a bullish sign. The sudden soar in the trading volume may lift the price, which may turn into a pullback.

Pepe Price Technical Analysis: A New All-time High Soon?

The Pepe coin price has shown strength on a daily time frame and is preparing for a pullback. The price has been consolidating on the trendline for the past 5 days. 

If the price exceeds the 20-day EMA and trading volume increases, it may gain bullish momentum. Assuming the chart structure manages to attract investors, the price may record a new all-time high.

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On the other hand, if the Pepe price slips below the trendline and sustains, the sellers may become confident. The price below the $0.00000900 level might be a bearish sign and may melt to the 200-day EMA.

According to the technical indicators, the Pepe coin price is trading over the key moving averages, showcasing the bullish sentiment at press time.

Bounce Back From the Multi-Month Support?

Its always bullish when you can bounce off a multi-month support line
$PEPE pic.twitter.com/lJythnxrVG

— davie satoshi (@NFTdavie) June 12, 2024

A source on X suggests that the Pepe crypto price is expected to bounce back from the multi-month support level. Currently, the price is wandering near the multi-month support level, and buyers seem interested.

Conclusion

Pepe coin is at a crucial pullback level and could potentially gain 30% in a week. The surge in trading volume and bullish signs on the chart indicate a possible upward momentum shortly. However, keeping a close eye on the price movement is essential, especially on the trendline and key support levels. Overall, the current market conditions suggest a potential opportunity for the coin to make significant gains in the coming days.

Technical Levels

The PEPE crypto price is expected to face resistance from the $0.0000150 and $0.0000170 levels. It may take support at the $0.0000105 and $0.0000065 mark.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.