Pepe Coin Price Signals Fresh Surge
Pepe coin (PEPE) started a fresh increase above the $0.0000120 resistance. The price is consolidating and might soon break higher above $0.0000135.
In the past few days, Pepe coin saw a decent increase from the $0.000010 support zone, like Bitcoin and Ethereum. The bulls were able to pump the price above the key barrier at $0.0000110, opening the doors for more gains. There was a clear move above the 23.6% Fib retracement level of the downward move from the $0.00001633 swing high to the $0.00001037 low.
More importantly, PEPE settled above the $0.0000120 pivot level and the 50-day simple moving average (blue). The price is now up over 10% and shows bullish signs.
PEPE is now trading above a connecting bearish trend line with resistance at $0.0000118 on the daily chart. Besides, there is a key bullish trend line forming with support at $0.0000120 on the same chart.
The current price action is positive and suggests that the price could soon aim for another increase after it completes the current consolidation pattern. On the upside, immediate resistance is near the $0.00001335 level. It is close to the 50% Fib retracement level of the downward move from the $0.00001633 swing high to the $0.00001037 low.
The first key resistance is near the $0.0000140 level. The main resistance is now forming near the $0.0000150 level. If PEPE clears the $0.0000140 and $0.0000150 resistance levels, it could gain bullish momentum. In the stated case, the price could rise and test the $0.00001620 resistance. The next resistance is near the $0.0000180 level. Any more gains could set the pace for a steady increase toward the $0.000020 level.
Are Dips Supported?
If not, Pepe coin could correct some gains. Immediate support is seen near the $0.0000120 level and the 50-day simple moving average (blue). The first major support is near the $0.0000110 level and the trend line.
A downside break below the $0.0000110 support might start another steady decline. The next key support sits near the $0.0000920 level, where the bulls could emerge. If they fail to protect the stated support, the price could turn bearish again and drop toward $0.00000750.
Overall, PEPE price is showing positive signs above the $0.0000110 and $0.0000120 levels. If the bulls remain active, the price could start a fresh increase above $0.00001335. If there is a downside correction, the $0.000010 support is the key.