PEPE PRICE ANALYSIS & PREDICTION (December 8) – Pepe Gears Up For Another Rally Following 20% Surges Overnight
Following a two-week bounce from close support, Pepe broke higher and looks ready for a massive rally, although the price looks calm.
Pepe ended last month’s trading super strong after going through a short pullback. This brought a little pause in the bullish momentum as the price revisited the previously broken resistance (yearly high) as support.
Bouncing back in the late month, the price increased but fell slightly earlier this week. Intercepting the $0.0000188 level, the buyers pushed back and briefly broke higher to a new high of $0.000027 yesterday.
That high was rejected, and the price dropped to $0.000025, where it traded calmly. As volatility turned low in the past hours, the buyers are finding it difficult to sustain pressure. A further drop could bring a little retest at the $0.000023 level that broke on the lower timeframe.
However, from the look of things, the buyers are likely to gain more dominance in the coming days. But if yesterday’s rejection turned out to be a double-top pattern, it may lose grip until it finds a solid level for a rebound. As of now, the trend remains strongly bullish daily.
Looking at the daily chart, Pepe has provided a notable discount during the last leg down, and considering the latest bounce back, we can expect a huge rally in the coming week.
Pepe’s Key Levels To Watch
Source: Tradingview
While trading under the key $0.00003 level, the higher price level to watch for an increase is $0.00004, followed by the $0.00005 level. The long-term target to keep in mind is $0.0001.
The $0.0000173 level has been providing support since Pepe bounced back in late November. If by any chance it collapses, the $0.0000131 and $0.0000101 levels are lower supports to keep in mind for a test.
Key Resistance Levels: $0.00003, $0.00004, $0.00005
Key Support Levels: $0.0000173, $0.0000131, $0.0000101
- Spot Price: $0.0000245
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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