PEPE Price Back In Action! Eye’s 50% Jump This Month?

The post PEPE Price Back In Action! Eye’s 50% Jump This Month? appeared first on Coinpedia Fintech News

The memecoins have gained significant attention from the market as top coins have recorded massive gains in their respective portfolios. Further, the Bitcoin price crossing the $44,000 mark resulted in the memecoins to experienced significant jumps in their value within the past day.

The PEPE price traded in a closed space between $0.00000113 and $0.00000123 for a brief period, following which the market gained momentum and the price broke out of the range.

After this, the Pepe coin price faced rejection at $0.00000136 and traded sideways for a while with minor price volatility. PEPE coin then lost momentum and broke down its support level of $0.00000123. The memecoin traded in a consolidated range between $0.00000113 and $0.00000123 for over a week.

After multiple failed attempts to break out, the price lost momentum, resulting in a breakdown. The price traded in a closed space between $0.00000103 and $0.00000113 till the end of November.

December started positively as the Cross EMA 50/200 witnessed a Golden Cross. Following this, the price gained significant momentum and recorded 44% before facing rejection at $0.00000163. Since then, the price has been trading sideways.

The MACD displays a constant green histogram from the month start. This highlights a massive ongoing buying and selling pressure in the market. Further, the histogram recorded a fading pattern, suggesting the price will lose momentum.

Will PEPE Price Hit $0.000002 Soon?

If the bulls hold the price above the support level of $0.00000154, the Pepe price will regain momentum and prepare to test its resistance level of $0.00000163. Further, if the market holds the price at that level, it will test its upper resistance level of $0.00000170.

Conversely, if a trend reversal occurs, the price will lose momentum and fall to test its support level of $0.0000146. Moreover, if the bears gain power, the price will plunge further and test its lower support level of $0.00000136.

If the bears continue to dominate the market, it will continue to lose value and test its crucial level of $0.00000123 by the month-end.