Bitcoin

Resistance

MEME

PEPE price is up over 10% and outpacing other meme coins. The price could continue to rise toward the $0.0000125 level in the near term. 
<ul> 
 <li>PEPE started a fresh increase above the $0.0000105 level.</li> 
 <li>The price is now trading above $0.0000110 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a breakout pattern forming with resistance at $0.0000115 on the hourly chart of the PEPE/USD pair (data source from Kraken).</li> 
 <li>The pair could rally further if there is a close above the $0.0000115 resistance.</li> 
</ul> 
<h2 id="pepe-price-surges-over-10">PEPE Price Surges Over 10%</h2> 
In the past few sessions, PEPE saw a steady increase above the $0.000010 resistance. It outpaced <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-holds-firm-61000/" target="_blank" rel="noopener ">Bitcoin</a> ,<a href="https://www.newsbtc.com/analysis/eth/ethereum-price-break-2925/" target="_blank" rel="noopener ">Ethereum</a>, and MEME coins. There was a 10% increase, and the bulls were able to push the price above the $0.0000110 level. 
It traded as high as $0.00001148 and is currently consolidating gains. The price is holding gains above the 23.6% Fib retracement level of the upward move from the $0.00000959 swing low to the $0.00001148 high. It is also well above the $0.000011 and the 100-hourly Simple Moving Average. 
Immediate resistance is near the $0.0000115 level. There is also a breakout pattern forming with resistance at $0.0000115 on the hourly chart of the PEPE/USD pair. <a href="https://www.newsbtc.com/wp-content/uploads/2024/05/PEPE-Coin-Price.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="size-full wp-image-608078" src="https://www.newsbtc.com/wp-content/uploads/2024/05/PEPE-Coin-Price.png?resize=1024%2C461" alt="PEPE Price " width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/PEPE-Coin-Price.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/05/PEPE-Coin-Price.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/05/PEPE-Coin-Price.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/05/PEPE-Coin-Price.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/05/PEPE-Coin-Price.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/05/PEPE-Coin-Price.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/05/PEPE-Coin-Price.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
The first key resistance is near $0.00001155. A close above the $0.00001155 resistance zone could send the price higher. The next key resistance is near $0.000012. If the bulls remain in action above the $0.000012 resistance level, there could be a rally toward the $0.0000125 resistance. Any more gains might send the price toward the $0.0000132 resistance. 
<h2 id="are-dips-limited">Are Dips Limited?</h2> 
If PEPE fails to clear the $0.0000115 resistance zone, it could start a downside correction. Initial support on the downside is near the $0.0000110 level. The next major support is at $0.0000105 or the 50% Fib retracement level of the upward move from the $0.00000959 swing low to the $0.00001148 high. 
If there is a downside break and a close below the $0.0000105 level, the price might accelerate lower. In the stated case, the price could even drop below the $0.000010 support zone. 
Technical Indicators 
Hourly MACD – The MACD for PEPE/USD is now gaining pace in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for PEPE/USD is now above the 60 level. 
Major Support Levels – $0.0000110 and $0.0000105. 
Major Resistance Levels – $0.0000115 and $0.0000120.

PEPE Leads the Pack: Outpacing Other MEME Coins In Market Surge

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