With the cryptocurrency market’s dynamic nature, one can never be too certain about what the future holds. However, one thing seems increasingly clear – the meme coin PEPE may be on the cusp of a PEPE bullish breakout. This prediction comes from renowned trader and analyst, KALEO, who expressed his optimistic forecast in a recent tweet.
Unfolding PEPE’s Market Performance
At the time of writing, PEPE was trading at $0.000001325, marking a 5.75% increase. This upward trend suggests that PEPE might potentially escalate to $0.0000016790 in the forthcoming fortnight. As per KALEO’s analysis, “PEPE looks ready to finally initiate full send.”
Supporting this optimistic forecast, PEPE has already begun its upward journey, registering a 5.75% rise. Although the meme coin had retraced slightly from its 24-hour high of $0.000001328, it was still trading closer to this peak than its daily low of $0.000001225. This positive price action contributed to PEPE’s weekly performance, which was in the green zone, marking a 16.87% increase over the past week.
PEPE’s Position in the Market
The 24-hour gain also propelled PEPE onto CoinMarketCap’s trending list, where it claimed the second position, trailing behind Shiba Inu (SHIB) and surpassing Ripple (XRP). Despite this price gain, PEPE did not record a rise in its trading volume during the same period, which remained at $70,049,191.
Technical Analysis of PEPE
From a technical perspective, PEPE has managed to break above the 9-day and 20-day EMA lines over the past 48 hours. Should this bullish momentum persist, PEPE may challenge the key resistance level at $0.0000013586 in the next 24-48 hours. A daily close above this level could clear the path for PEPE to climb to the next major resistance level at $0.0000016790 in the subsequent two weeks.
However, should PEPE face rejection at the $0.0000013586 resistance, it might risk retesting the crucial support level at $0.0000009930.
To keep an eye on PEPE’s performance and other market trends, consider using the cryptoview.io application. It provides comprehensive insights into the crypto market, aiding you in making informed investment decisions.
