What’s the Next Target of Current Recovery?

What’s the Next Target of Current Recovery?

Pepe Coin Price Prediction: The coin buyers preparing for another breakout set the PEPE price to hit $0.0000014

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Pepe Coin Price Prediction: On October 23rd, a wave of buying pressure lifted the crypto market, catapulting the largest cryptocurrency Bitcoin to a new yearly high of $35,000. This boost revitalized the “Uptober” narrative and sparked rallies across major altcoins. Thus, the frog-themed memecoin, PEPE broke through its $0.00000085 resistance level, ending a seven-week-long consolidation phase.

Also Read: Memecoin Rally Next? Shiba Inu and Dogecoin Gearing Up for the Uptrend

Can PEPE Price Rise Beyond $0.000001

  • The PEPE price wavering above the daily EMAs(20, 50, and 100) could offer additional support.
  • A potential break above the $0.000001 barrier would intensify the buying pressure in the market
  • The 24-hour trading volume in the Pepe coin is $281 Million, indicating a 30% loss.

TradingView ChartSource- Tradingview

In the daily time frame chart, the Pepe coin price trajectory has been nearly vertical since its October 19th low of $0.0000006. The coin has surged to its current trading price of $0.000001, marking a whopping 64% increase. 

This rally culminated in the formation of a bullish reversal pattern known as a “double bottom,” confirmed when the price shattered the $0.00000085 resistance on October 23rd. The next day saw a slight pullback, as the coin retested the broken resistance as new-found support. 

This support level validated the memecoin’s prospects for higher valuations, contributing to today’s 11.8% surge. If the buying pressure continues, PEPE could aim for another resistance level at $0.00000103, further amplifying its bullish trajectory. 

A successful break above this could potentially extend the recovery rally to $0.00000144

PEPE vs DOGE vs SHIB Performance

PEPE vs DOGE vs SHIBSource: Coingape| Pepecoin Vs Dogecoin Vs Shiba Inu Price

The last two months’ price behavior in popular maintains DOGE, SHIB, and PEPE was largely sideways. While the Dogecoin price and Shiba Inu price made a notable upswing amid the current recovery, they are still struggling to surpass their last swing high resistance. However, the PEPE price outperformed the other two with a significant rally, indicating it has better potential for further gains

  • Average Direction Index: The rising ADX slope at 24% reflects the buyers have enough steam to carry out this recovery further.
  • Exponential Moving Average: The 20 EMA slope about to cross above the 50 EMA slope reflects the increasing bullish sentiment in the market.

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Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

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.


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