The post Pepe Coin (PEPE) Price Could Rise 10x, But Only If It Breaks Through One Key Resistance appeared on BitcoinEthereumNews.com.

With its amazing price swings—almost 90% in the previous month— Pepe Coin (PEPE), the most well-known meme coin, has enthralled the crypto community. Although the upward trend is clear-cut, a main resistance level could stop the possible 10x price explosion. For traders and investors trying to profit from PEPE’s price action, knowing this resistance and its ramifications is absolutely vital. ​​PEPE’s Key Resistance PEPE, trading in a zone of price discovery right now, has encountered notable local opposition around the $0.00002500 level. More historical pricing data is usually necessary for price discovery zones, which usually support and oppose benchmarks.  In this instance, the $0.00002500 level has become a psychological barrier since round numbers usually serve as either support or opposition points of view. Furthermore, this level increases its psychological relevance since it marks midway toward the next mark of $0.00005000. A bullish candlestick preceded PEPE’s breakout to indicate increasing buying pressure and set $0.00002175 as a new support level. If the currency keeps its increasing trajectory, Fibonacci extensions applied to PEPE’s chart reveal other growth targets. The Role of Fibonacci Extensions and Bullish Indicators Fibonacci extensions offer insightful analysis of possible price goals in an uptrend. Regarding PEPE, the last breakout fits important Fibonacci levels and indicates $0.00002500 as a turning point. A strong breakout over this barrier might open the path for a rally toward more ambitious goals, including the much sought-after 10x price gain. PEPE’s break from a symmetrical triangle pattern—often known as a bull pennant—adds to the bullish case. This configuration points to still further upward momentum. The height of the pennant offers a measurable movement target in line with estimates for a 10x price rise. The lack of bearish reversal signals supports the hope for PEPE’s future. Rexas Finance (RXS) has become a convincing substitute with…

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Filed under: News - @ November 30, 2024 4:19 am