The post PEPE Price Analysis: Back In Action, PEPE Eyes 40% Jump! appeared first on Coinpedia Fintech News
As the market regains bullish momentum, meme coins like the PEPE coin price capitalize on short bullish spurges. Maintaining the overall downtrend in a falling channel, the PEPE coin attempts to start a recovery rally to change the overall trend.
Moreover, with recent improving conditions, PEPE price prediction has turned optimistic for the coming year.
Despite a high-speed pullback phase of a 65% decline between July and September, the Uptober spirits led to a trend reversal in PEPE price. With a double bottom reversal at $0.0000006028, the meme coin showcases a sharp increase in bullish trend momentum.
Rising above the 50-day EMA, the trend reversal gives an upside breakout of the falling channel pattern in the daily chart. The uptrend accounts for a price jump of 115% in the last three weeks and continues to head higher.
Currently trading at $0.0000013349, the PEPE price shows a bullish intraday growth of 12.47%, forming an engulfing candle. Further, the short-term price action shows a rounding bottom breakout teasing a price jump to $0.0000015.
Technical indicators:
EMA: The 50-day EMA continues to provide dynamic support and sustains a positive trend.
MACD: The MACD and signal lines diverge to regain the bullish alignment and avoid a negative crossover.
Will PEPE Price Jump 40% This Year?
With Bitcoin gaining momentum above $36K, the altcoins, especially meme coins, are getting a bullish revival. If the ongoing uptrend is gaining momentum, the PEPE price rally can reach the $0.00000185 mark, accounting for almost a 40% hike.
However, a pullback under $0.000001185 can drop the prices to $0.0000010.
#PriceAnalysis [Source: Coinpedia]