Will There Be An Uptrend From Investors’ Favorite Meme Coin: Here Are The Expected Levels!

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Once at the center of investors’ attention Pepe Coinhas been in a downward trend for almost two months after its peak price of $0.00000175.

This correction phase erased more than 50% of the gains made. This led to a 46% drop in the PEPE price, dropping it to its current level of $0.00000094.

However, analysis of the daily time frame chart shows that this pullback has formed a bullish reversal pattern, potentially meme coinIt indicates a revival of buyer interest in .

Has Key Correction Level Set PEPE Price for New Rally?

  • PEPE price has recovered from the channel pattern boundaries at least three times, reflecting its strong impact on market participants.
  • The falling price could find an increase in demand pressure at the $0.00000084 support.
  • The 24-hour trading volume on Pepe coin is $49.47 Million, indicating a gain of 39%.

Pepe Coin price chart

According to the latest reports, Pepe coin price rose to $0.00000094, extending its intraday gain to 1%. However, if the meme coin faces significant selling pressure, the downtrend could expand under the influence of a descending channel pattern. A critical support level for PEPE investors is set at $0.00000084, which coincides with the 78.6% Fibonacci retracement level.

This sharp decline indicates that the upward momentum is weakening. However, the strong support level may trigger an opportunity for buyers to launch a counterattack. A reversal from this support zone could trigger a breakout from the descending channel, signaling a potential trend reversal.

Is PEPE Price at the End of a Correction Trend?

pepe coin price chart analysis

Koinfinans.com As we reported, according to the weekly time frame chart, it is observed that the Pepe coin price has formed a bullish reversal pattern called inverse head and shoulders. If the chart pattern is correct, this meme coin could witness a final pullback before its price reaches the neckline resistance around $0.00000165, potentially leading to a gain of up to 80%.

  • Bollinger band: A decline at the lower bound of the Bollinger band reflects that selling momentum is still aggressive.
  • Relative Strength Index: Daily RSI slope at 33 indicates that further correction could push PEPE price into oversold territory.

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