PEPE price prediction: key price levels to watch
2024-12-12
Category: None

PEPE recently saw an exponential rally of over 250%, hitting a new all-time high (ATH) of $0.0000284 on 9 December. This explosive growth coincided with the broader memecoin supercycle and Bitcoin’s sustained bullish sentiment on the charts. 

Since its ATH, PEPE has oscillated between $0.000018 and $0.0000247, signaling more market indecision.

The key levels to watch out for are –

Support: The $0.000018-$0.00002 range, aligned with the 20-day EMA, is a critical support zone for buyers. A dip below this range could invalidate the prevailing bullish trend, exposing the token to downside risks towards $0.000015.

Resistance: A decisive close above the $0.000025 resistance could set the stage for buyers to push towards the $0.0000284 ATH. Breaching this level could open doors to an extended uptrend towards $0.00003.

Technical indicators suggested cautious optimism. The RSI, at press time, was hovering near 61 – A sign of moderate bullish momentum. While it seemed to be far from overbought territory, the possibility of a consolidation phase near these press time levels cannot be ruled out.

The MACD was also yet to see a full bearish crossover, hinting at potential near-term pressure on sellers. However, traders should wait for the Signal line to stabilize before predicting a trend reversal.