PEPE price rose by more than 10%, faster than other meme coins. The price may continue to rise towards the $0.0000125 level in the near term.
- PEPE began a new rally above the $0.0000105 level.
- The price is currently trading above $0.0000110 and the 100-hour simple moving average.
- On the hourly chart of the PEPE/USD pair, there is a breakout pattern forming with resistance at $0.0000115 (data source from Kraken).
- A close above the $0.0000115 resistance line could push the pair higher.
PEPE prices soar by more than 10%
Over the past few sessions, PEPE has been steadily increasing above the $0.000010 resistance. It surpassed Bitcoin, Ethereum, and MEME Coin. There was a 10% rise and the bulls could push the price above the $0.0000110 level.
It traded as high as $0.00001148 and is currently consolidating gains. The price is maintaining an upward trend above the 23.6% Fib retracement level rising from the $0.00000959 swing low to the $0.00001148 high. It is also well above $0.000011 and the 100-hour simple moving average.
Immediate resistance is near the $0.0000115 level. On the hourly chart of the PEPE/USD pair, there is also a breakout pattern with resistance forming at $0.0000115.
The first major resistance is near $0.00001155. A break above the $0.00001155 resistance zone could push the price higher. The next major resistance is near $0.000012. If the bulls continue to be active above the $0.000012 resistance, there could be a rally towards the $0.0000125 resistance. Any more profits could push the price towards the $0.0000132 resistance.
Are dips limited?
If PEPE fails to clear the $0.0000115 resistance zone, a downward correction could begin. Initial support for the downside is near the $0.0000110 level. The next major support is the 50% Fib retracement level at $0.0000105 or the rise from the $0.00000959 swing low to the $0.00001148 high.
A downward breakout occurs and the price may move lower if it closes below the $0.0000105 level. If indicated, the price may fall below the $0.000010 support area.
technical indicators
Hourly MACD – The MACD for PEPE/USD is now gaining speed in bullish territory.
Hourly Relative Strength Index (RSI) – The RSI for PEPE/USD is now above the 60 level.
Key support levels – $0.0000110 and $0.0000105.
Key resistance levels – $0.0000115 and $0.0000120.