Published 4 mins ago
Pepepcoin Price Analysis: On August 8th, the Pepecoin price gave a bullish breakout from the resistance trendline of a falling wedge pattern. This pattern completion signals a trend reversal and triggers a V-shaped recovery in the daily time frame chart. Amid the seven days rally, the prices recorded 30% growth reaching the current price of $0.00000143. Will this recovery extend?
Also Read: Will Pepe Coin (PEPE) Price Reclaim $0.00000155 Milestone?
Pepecoin Price Daily Chart
- A bullish breakout from the $0.00000154 resistance set the PEPE price for a 10% rally
- The coin price reclaimed the 4-hour EMAs(20 and 50) could offer additional support to rising prices.
- The 24-hour trading volume in the Pepecoin coin is $107.5 Million, indicating a 42.5 % loss.
Source- Tradingview
A V-shaped recovery signals aggressive buying and an attempt from bulls to reclaim trend control. So far the PEPE price rally has reclaimed two significant horizontal resistance of $0.00000120, and $0.00000131.
With an intraday gain of 5.15%, the coin buyers rechallenge the combined resistance of $0.0000145 and 50% Fibonacci retracement level. However, after a sudden rally, the frog-themed memecoin could show a minor retracement to absorb the build-up selling pressure.
If the bullish momentum persists, the crypto buyers could give a breakout from the 0.5 FIB level. Reclaiming this barrier will serve as a crucial signal as buyers have offset 50% region control of the seller.
The post-breakout rally would trigger a quick 10% to $0.0000016.
Can Pepecoin Price Still Resume Downward Trend?
If the anticipated reversal plunged below $0.00000131, the coin holders would still be under the threat of a downtrend continuation. This breakdown may catalyze a 9.5% drop to test the immediate support of $0.0000012.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.