PEPE Leads the Pack: Outpacing Other MEME Coins In Market Surge
May 15 2024 - 2:57AM
NEWSBTC
PEPE price is up over 10% and outpacing other meme coins. The price
could continue to rise toward the $0.0000125 level in the near
term. PEPE started a fresh increase above the $0.0000105 level. The
price is now trading above $0.0000110 and the 100-hourly Simple
Moving Average. There is a breakout pattern forming with resistance
at $0.0000115 on the hourly chart of the PEPE/USD pair (data source
from Kraken). The pair could rally further if there is a close
above the $0.0000115 resistance. PEPE Price Surges Over 10% In the
past few sessions, PEPE saw a steady increase above the $0.000010
resistance. It outpaced Bitcoin ,Ethereum, and MEME coins. There
was a 10% increase, and the bulls were able to push the price above
the $0.0000110 level. It traded as high as $0.00001148 and is
currently consolidating gains. The price is holding gains above the
23.6% Fib retracement level of the upward move from the $0.00000959
swing low to the $0.00001148 high. It is also well above the
$0.000011 and the 100-hourly Simple Moving Average. Immediate
resistance is near the $0.0000115 level. There is also a breakout
pattern forming with resistance at $0.0000115 on the hourly chart
of the PEPE/USD pair. The first key resistance is near $0.00001155.
A close above the $0.00001155 resistance zone could send the price
higher. The next key resistance is near $0.000012. If the bulls
remain in action above the $0.000012 resistance level, there could
be a rally toward the $0.0000125 resistance. Any more gains might
send the price toward the $0.0000132 resistance. Are Dips Limited?
If PEPE fails to clear the $0.0000115 resistance zone, it could
start a downside correction. Initial support on the downside is
near the $0.0000110 level. The next major support is at $0.0000105
or the 50% Fib retracement level of the upward move from the
$0.00000959 swing low to the $0.00001148 high. If there is a
downside break and a close below the $0.0000105 level, the price
might accelerate lower. In the stated case, the price could even
drop below the $0.000010 support zone. Technical Indicators Hourly
MACD – The MACD for PEPE/USD is now gaining pace in the bullish
zone. Hourly RSI (Relative Strength Index) – The RSI for PEPE/USD
is now above the 60 level. Major Support Levels – $0.0000110 and
$0.0000105. Major Resistance Levels – $0.0000115 and $0.0000120.
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