The Pepe memecoin has been showing a lot of bullish momentum recently. The Pepe coin price has increased by almost 37% in the last day and 161.23% overall this month, demonstrating the currency’s strong bullish influence in the market.
For over two weeks, the PEPE price fluctuated in a confined band between $0.00000086 and $0.00000109. Then, in just three days, the price saw an increase of more than 33%. But the bulls were rebuffed at the $0.00000137 resistance level, and the price exhibited a neutral trend for the following nine days.
The bulls repeatedly tried to break through the resistance level as the market volatility intensified, but they were consistently rejected. Subsequently, the bulls were able to break through the resistance level and saw a jump of 52.55% in less than a day. After that, the price briefly moved sideways.
The Pepe memecoin recently gained traction and had a valuation increase of almost 34%; however, the price encountered resistance at $0.00000280 and briefly moved sideways. The Pepe currency is now testing a breakout, the result of which is uncertain.
A consistent green histogram is shown by the technical indicator MACD, which suggests that there is significant purchasing pressure in the cryptocurrency market. Additionally, the averages display an upward trend, indicating that the price will continue to appreciate over time.
Is Pepe Coin Going Higher?
The bulls will regain momentum and challenge the price’s upper resistance level of $0.00000315 if the market pushes the price above the barrier level of $0.00000280. Additionally, if the bulls maintain their hold on the market, it will rise further and get ready to test its upper boundary of $0.00000350.
On the other hand, if the bears overwhelm the bulls and take command of the market, the PEPE price will lose strength and drop to test its $0.00000245 support level.
The market will continue to drop and get ready to test its lower support level of $0.00000209 in the next weeks if the bears maintain their dominance.