PEPE price is currently trading near $0.00001254, as bulls attempt to reclaim momentum after a recent bearish action. After successfully retesting its crucial support of $0.00001140, this memecoin has displayed a double-digit surge over the past 4 days.
With a market capitalization of $5.3 billion and an intraday trading volume of $1.04 billion, a change of +37.65%, the market dominance of it has increased to 0.1601% and is currently holding the 27th position.
Considering the ongoing market sentiments, investors are eager to find out the price action of this Ethereum memecoin for this week. Are you one of many who are looking for the same?
Pepe Coin Technical Indicators
The Moving Average Convergence Divergence (MACD) remains in bearish territory as the histogram displays constant red bars. However, the fading color of the red bars highlights an ease in the bearish pressure.
The price action has already shown signs of bullish reversal with bouncing up 15% in the last few days. This suggests a high possibility of a strong rally in the upcoming time.
The Exponential Moving Averages (EMAs) are powerful tools to simplify the price data and identify trends. The EMA 20 (red) ideally reflects short-term data and currently stands at $0.00001266. If the price is rejected at the EMA 20, it could fall back to test out the support zone formed by EMA 50 (orange) and EMA 100 (cyan) that are at $0.00001144 and $0.00001140, respectively.
Furthermore, the EMA 200 (blue) has recently acted as a support indicating that the overall long-term trend remains bullish. By evaluating the above data, the price of PEPE memecoin could witness a sustained bullish action both in shorter and longer time frames.
Will PEPE Coin Price Go Up?
If bulls could regain control and push toward the resistance at $0.00001266, further gains could follow. A breakout above this resistance could result in this memecoin heading toward its upper price targets of $0.00001400 and $0.00001600 this week.
However, a breakdown below the 200 EMA may highlight bearish reversal and result in the PEPE meme coin experiencing deeper corrections, with next support near $0.00001085 and $0.00000875, respectively.
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