Pepe Coin Holds Strong at $0.06999 Support—But There’s a Catch
The post Pepe Coin Holds Strong at $0.06999 Support—But There’s a Catch appeared on BitcoinEthereumNews.com.
PEPE’s Key Resistance Break Could Signal Start of New Bullish Momentum. Double Bottom Formation Near $0.06999 Suggests Bullish Reversal Incoming. Neutral RSI and MACD Crossover Indicate PEPE is Primed for a Major Move. Pepe Coin ($PEPE) appears to be setting up for a bullish move, as recent price action suggests a higher low has formed according to Plazma, an analyst. With the current chart showing signs of consolidation and key support levels holding strong, traders are anticipating a potentially strong period for this meme coin. An analysis of the $PEPE/WETH pair on Uniswap highlights critical support and resistance levels that could shape the next move for this popular cryptocurrency. Key Resistance Levels to Watch The $PEPE faces significant resistance levels that will need to be broken for a potential rally. The $0.00001720 resistance level marks a crucial area where the price was rejected during a previous uptrend. Breaking above this level could signal a continuation of the bullish momentum. Another key level to watch is $0.00001157, which has acted as a pivot in the past. This level has seen multiple reversals, making it a critical marker for a potential price breakout. Additionally, in the short term, $0.07999 presents an intermediate resistance, where the price has struggled to gain momentum. Critical Support Levels for Bulls On the downside, $PEPE has found solid support around $0.000006999, a level that has consistently offered stability. Historically, this level has seen multiple touchpoints, providing a foundation for potential bullish action. Read also: PEPE/USD 1-day price chart, Source: Trading view Another essential support level is $0.000005999, which has repeatedly cushioned price declines. Bulls should closely monitor this area, as it represents a zone where positive price action often occurs. Furthermore, $0.000004999 serves as the lower support, signaling a significant defense zone. Should the price dip below…
Filed under: News - @ September 18, 2024 6:27 am