Plunge

Pepe

The post <a href="https://coinpedia.org/price-analysis/whats-cooking-with-the-pepe-price-rally-it-is-preparing-to-plunge-below-0-0001-or-rise-to-0-000015/">What’s Cooking With the Pepe Price Rally? It is Preparing to Plunge Below $0.0001 or Rise to $0.000015?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The crypto markets are again consolidating as the bears are trying hard to reclaim their dominance, which has shaken in the past few days. Ever since <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin’s price</a> attempted to hit $70,000, market participants have been pretty bullish on the upcoming price action. Besides, the altcoins are also displaying huge potential to maintain a healthy upswing, with the majority of the tokens within the top 10 thriving hard. However, the memecoins, specifically the Pepe price, are experiencing extreme upward pressure while the bulls are trying to find a strong base to trigger a healthy rebound.&nbsp; 
The <a href="https://coinpedia.org/price-prediction/pepecoin-pepe-price-prediction/" target="_blank" rel="noreferrer noopener">PEPE price</a> is ranging within a narrow range from the past fortnight as the bulls are failing to sustain above $0.000012. After holding the zone for a while, the price began to descend, and it was expected that the memecoin would drop below $0.00001. The bulls managed to prevent excessive loss and after plunging slightly below $0.000012, the token appears to be ready for the next price action.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe7GT3VbK8rI_c2ISCZOPVq07v8AwTkYs-q8JdJ7tjzOUueNn_UiV40tpKNuE9pbXtyWT00k3apfngjKmW-LIuklBVfNHui5BrE7aH5ueiBhH26MA9PCfGnI4UVw_CSFb1mai6b2w0ZNK2eXOuXEHobt16e?key=LVg4AK0eFQotBMnP8HTlMQ" alt="">
</figure> 
The PEPE price has been trading within an expanding megaphone as the resistance and support are diverting apart. The price has been consistently hitting these levels and after rebounding from the lower support, the token failed to rise high and test the resistance, following an ABC wave. Instead, the bears restricted the rally to below $0.000013 which has raised the speculation of plunging below $0.00001 in the coming days.&nbsp; 
The DMI or directional movement indicator, helps to determine the direction of the token and continues to remain neutral while the ADX is heading towards the lower support. Besides, the Bollinger bands are contracting while the volume is plunging, which suggests the price is expected to consolidate below the crucial resistance zone. Hence, the PEPE price is believed to maintain a horizontal consolidation for a while and after hitting the ascending trend line, the bulls could trigger a strong ascending trend and achieve $0.000015 in the coming days.&nbsp; 
Also Read: <a href="https://coinpedia.org/price-analysis/top-3-low-cap-memecoins-for-10x-surge-in-2024/" target="_blank" rel="noreferrer noopener">Top 3 Low-cap Memecoins For 10X Surge In 2024?</a>

What’s Cooking With the Pepe Price Rally? It is Preparing to Plunge Below $0.0001 or Rise to $0.000015?

CoinPedia News

Andra artiklar publicerade 31 juli 2024

Crypto Market Displays Increased Selling Pressure As Top Tokens Stumble!

Bitwise Announces 10% Donation of Ethereum ETF Profits to Open-Source Developers

Ripple and Fenasbac Announce Strategic Partnership to Enhance Blockchain Ecosystem in Brazil

Ada Transaksi 50 Triliun Shiba Inu (SHIB): Imbas Peretasan WazirX

$1m Raised: Why Solciety’s Trending ICO Will Slay Meme Coin Rivals

Compound Price Surges with Bullish Momentum

Prenumerera på vårt nyhetsbrev och få kryptouppdateringar varje dag!