Pepe Coin

Pepe

Coin

<img width="1200" height="681" src="https://coingape.com/wp-content/uploads/2023/11/JVdNePWS-e1700405728288.png" class="attachment-full size-full wp-post-image" alt="PEPE price" decoding="async" style="float:right; margin:0 0 10px 10px;">
Amid prevailing market uncertainty, the Pepe Coin is experiencing significant resistance at the $0.00000145 level, leading to a <a href="https://coingape.com/markets/pepe-coin-price-prediction-as-healthy-buyers-for-28-leap/">notable reversal</a>. In the last two weeks, this resistance has caused a 22% drop in this memecoin’s market value, bringing it to a current trading price of $0.00000114. However, analysis of the 4-hour time frame chart reveals this decline as part of a bullish continuation pattern known as the Falling Wedge. 
Also Read:&nbsp; <a href="https://coingape.com/__trashed-10/">Bitcoin (BTC) Derivatives Market Show Resemblance to 2021 Bull Run, Options Expiry Today</a> 
<h2 id="strong-will-pepe-price-recovery-continue-strong">Will PEPE Price Recovery Continue?</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">The formation of a falling wedge pattern could bolster buyers to breach the $0.0000015 barrier</li> 
 <li style="font-weight: 400;" aria-level="1">The $0.000001 stands as a strong support zone for buyers</li> 
 <li style="font-weight: 400;" aria-level="1">The 24-hour trading volume in the Pepe coin is $51 Million, indicating a 12% loss.</li> 
</ul> 
<img decoding="async" src="https://s3.tradingview.com/snapshots/j/JVdNePWS.png" alt="TradingView Chart">Source- Tradingview 
From the third week of October to early November, the <a href="https://coingape.com/price/pepe-coin/">Pepe Coin price</a> underwent a considerable growth phase, rising from $0.0000006 to $0.00000146, a total increase of 131%. This rally was marked by the formation of three bullish continuation patterns, each suggesting the potential for sustainable recovery.&nbsp; 
<blockquote>
 The first was a pennant pattern around October 10th, leading to a rise to $0.00000136. The second was a <a href="https://coingape.com/education/bull-flag-pattern-in-crypto-meaning-and-how-to-identify/">bullish flag pattern</a> towards the end of October, propelling the price to $0.00000146.&nbsp;
</blockquote> 
Currently, the coin is forming a <a href="https://coingape.com/education/falling-wedge-pattern-what-to-do-if-it-appears-on-a-crypto-chart/">Falling Wedge</a>, which typically indicates a high likelihood of continuing the uptrend. This pattern may cause the price to undergo further correction before a decisive upward breakout.&nbsp; 
A successful breakout from this pattern could significantly increase buying pressure, potentially raising Pepe coin price by 25% to revisit its last swing high of $0.00000146. 
<h2 id="strong-key-levels-to-watch-strong">Key Levels to Watch</h2> 
As of now, Pepe Coin is trading at $0.00000112, having recently dropped below the 38.2% Fibonacci retracement level. If the correction continues, the coin’s price might fall to the next support zone around $0.000001, coinciding with the 50% Fibonacci level. Maintaining above this level would keep the bullish sentiment intact, presenting a good chance for an upward trend continuation. However, a drop below this level would indicate a weakening in bullish momentum. 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Bollinger Bands: The flat upper boundary of the <a href="https://coingape.com/education/bollinger-band/">Bollinger Bands</a> may act as an additional resistance zone, challenging upward price movements.</li> 
 <li style="font-weight: 400;" aria-level="1">Vortex Indicator: The converging slopes of the VI+ and VI- lines, nearing a negative crossover, suggest a potential acceleration in selling momentum.</li> 
</ul> 
The post <a rel="nofollow" href="https://coingape.com/markets/recurring-pattern-hints-pepe-coin-price-to-25/">Recurring Bullish Pattern Hints PEPE Coin Price Recovery to Extend 25%</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Recurring Bullish Pattern Hints PEPE Coin Price Recovery to Extend 25%

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