Reversal

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/pepe-price-analysis-is-pepe-leaping-back-to-life/">PEPE Price Analysis: Is PEPE Leaping Back To Life?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Despite trading at a discount of 84% from its all-time high of $0.000004354 just five months back, the PEPE price signals a reversal. Currently sprouting from the base of a falling channel, the frog-themed meme coin signals a potential reversal within the channel.&nbsp; 
Starting a positive trend within the bearish pattern will increase the breakout chances for the PEPE coin price.&nbsp; 
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 <img decoding="async" width="1024" height="463" src="https://image.coinpedia.org/wp-content/uploads/2023/09/25113507/PEPEUSD_2023-09-25_10-52-31-1024x463.png" alt="" class="wp-image-232315" srcset="https://image.coinpedia.org/wp-content/uploads/2023/09/25113507/PEPEUSD_2023-09-25_10-52-31-1024x463.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/09/25113507/PEPEUSD_2023-09-25_10-52-31-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/09/25113507/PEPEUSD_2023-09-25_10-52-31-768x347.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/09/25113507/PEPEUSD_2023-09-25_10-52-31-1536x694.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/09/25113507/PEPEUSD_2023-09-25_10-52-31-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/09/25113507/PEPEUSD_2023-09-25_10-52-31.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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Crashing under the 50-day EMA, the <a href="https://coinpedia.org/price-prediction/bnb-binance-coin-price-prediction/" rel="noopener noreferrer nofollow">PEPE price</a> has broken multiple support levels over the past few months. The downtrend accounts for an almost 65% drop within three months to test the $0.0000006028 psychological level.&nbsp; 
The downtrend forms a falling channel within the daily chart, with the meme coin trading close to the support trendline. However, the sudden demand inflow at the confluence of $0.00000060 and the baseline hiked the PEPE coin by 17% last Friday.&nbsp; 
<h2 class="wp-block-heading" id="h-will-pepe-price-sustain-the-reversal-rally">Will PEPE Price Sustain The Reversal Rally?</h2> 
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 <img decoding="async" width="1024" height="463" src="https://image.coinpedia.org/wp-content/uploads/2023/09/25113504/PEPEUSD_2023-09-25_10-53-05-1024x463.png" alt="" class="wp-image-232314" srcset="https://image.coinpedia.org/wp-content/uploads/2023/09/25113504/PEPEUSD_2023-09-25_10-53-05-1024x463.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/09/25113504/PEPEUSD_2023-09-25_10-53-05-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/09/25113504/PEPEUSD_2023-09-25_10-53-05-768x347.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/09/25113504/PEPEUSD_2023-09-25_10-53-05-1536x694.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/09/25113504/PEPEUSD_2023-09-25_10-53-05-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/09/25113504/PEPEUSD_2023-09-25_10-53-05.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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In the short-term chart of 4 hours, the PEPE price action displays an end of lower high formations. Giving rise to an upside breakout of a bearish channel, the meme coin price is sustaining above the 50 EMA.&nbsp; 
Analyzing the price trend, a habit of moving in a sideways range before giving a decisive move is evident in the chart. The recent bullish breakout ends the streak of consecutive bearish downturns. This anomaly sparks a surge of bullish possibilities.&nbsp; 
Moreover, the technical indicators maintain an optimistic viewpoint on the upcoming PEPE price trend.&nbsp; 
Technical indicators: 
MACD: In the daily chart, the MACD and signal lines gain a bullish gap post-crossover, increasing the chances of an uptrend. 
RSI: The daily RSI line resurges from the oversold zone, signifying a bullish comeback for the meme coin. 
Considering the uptrend sustains, the PEPE price can reach the $0.00000080 zone. On the flip side, a reversal below $0.0000006028 will prolong the downtrend.

PEPE Price Analysis: Is PEPE Leaping Back To Life?

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