PEPE is on a remarkable upward trajectory, showing significant momentum that has caught the attention of both traders and investors. This continued upward trend indicates high market confidence and growing optimism about the market PEPE perspectives.
As the value of the cryptocurrency continues to rise, market analysts are closely monitoring key indicators and trends to assess how long this growth phase may last and what potential highs PEPE may reach. In this analysis, we will look at PEPE’s price outlook using some technical indicators.
At the time of writing, PEPE was trading at around $0.00001531 and up 3.33% with a market capitalization of over $6.3 billion and a 24-hour trading volume of over $1.5 billion. Market capitalization and trading volume decreased by 3.51% and 26.3%, respectively, in the last 24 hours.
Technical view of PEPE price with indicators
On a 4-hour horizon, the PEPE price is still below the 100-day uncomplicated moving average (SMA), which clearly indicates that it may be ready for a more bullish move.
The 4-hour moving average convergence divergence (MACD) also signals that PEPE may be moving higher as MACD histograms show signs of moving above the MACD zero line. Moreover, although the MACD line and the MACD signal line are trending below the zero line, it can be seen that the MACD signal line is trying to cross the MACD line, which suggests that the PEPE price may continue to rise.
On a 1-day horizon, we can observe that PEPE after the pullback is showing signs of growth due to the decline of the daily bullish candle.
Although the 1-day MACD is giving a bearish signal since the MACD histograms have dropped below the MACD zero line and both the MACD line and the MACD signal line have crossed while still above the zero line, there is a possibility that the developments could reverse again bullishly based on for price action in a 4-hour time frame.
Future prospects for the meme coin
Based on PEPE’s previous price action, we can see that it has formed highs at $0.00001731 and lows at $0.00001313, $0.00001152 and $0.00000888, which are key points in determining the next destination.
If PEPE continues to move up to the USD 0.0001731 resistance level and breaks above it, it therefore means that it will go higher to form a modern high.
However, if it fails to break above this resistance level, it will start moving down towards the $0.00001313 support level. If the price falls below this support level, it could move even further to test the $0.00001152 level and possibly other levels on the chart.
Featured image from iStock, chart from Tradingview.com
