As the market manages to regain upward momentum, PEPE coin Meme coins like price benefit from short bullish spikes. Continuing the overall downtrend in a descending channel, PEPE coin is trying to initiate a recovery rally to change the overall trend.
Moreover, with the recently improving conditions, the PEPE price forecast has become optimistic for the coming year.
Despite trading at a steep 85% discount from its all-time high of $0.0000044867, meme coin finds a new turning point. PEPE price action, rebounding from the support trend line and making a second comeback at $0.00000006028, is teasing a double-bottom reversal.
Overall, PEPE maintains a falling channel pattern and finds solid footing at the $0.0000006028 mark. With an overnight growth of 3.35%, the chances of a new bull cycle have increased greatly.
In addition, the recent rise in Bitcoin has increased sentiment for altcoins and given a bullish tone to the trend. This increases the possibility of a reversal to reach the overhead resistance trend line.
Currently, PEPE price is trading at $0.0000006468 with minimal intraday movement.
Technical indicators
EMA: The 50-day EMA is forming on the daily chart, keeping a downtrend in motion.
RSI: DAILY RSI The daily RSI line is rising again before reaching the oversold zone and aims to reach the halfway line. This reversal indicates a potential rise.
Will PEPE Coin Price Complete its 20% Upward Movement?
If overall market conditions improve in October, meme coins like PEPE will see more positive price movements. The ongoing upward trend is gaining momentum. Additionally, the price trend seems to be heading towards the $0.0000008960 mark.
However, a market-wide correction could hinder positive growth and cause a decline below $0.0000006028.