Friday, April 19

Will PEPE Price Reach New All-Time High After 115% Increase?

The PEPE rate broke out from a long-lasting coming down resistance pattern line and almost reached a brand-new all-time high today.

While PEPE suffered a small rejection on February 28, the cost still trades above a small horizontal assistance location.

PEPE Breaks Out From Long-Term Resistance

The weekly amount of time chart reveals that PEPE has actually fallen under a coming down resistance pattern line given that soon after the all-time high in May 2023. The pattern line triggered 3 rejections (red icons).

After beginning an upward motion in February, the PEPE rate lastly broke out today in the middle of a 116% weekly boost. PEPE reached a high of $0.00000368 before falling somewhat. In spite of the cost drop, PEPE still trades above the last horizontal resistance location in the weekly timespan.

Learn more: How To Buy PEPE (PEPE) and Everything You Need to Know

PEPE/USDT Weekly Chart. Source: TradingView

The weekly Relative Strength Index (RSI) supports the breakout. When assessing market conditions, traders utilize the RSI as a momentum indication to figure out whether a market is overbought or oversold and whether to build up or offer a possession.

If the RSI reading is above 50 and the pattern is up, bulls still have a benefit, however if the reading is listed below 50, the reverse holds true. The sign is trending up and above 50, both indications of a bullish pattern.

PEPE Price Prediction: A New All-Time High?

The technical analysis of the day-to-day amount of time supports the extension of the upward motion since of the wave count. Technical experts utilize the Elliott Wave theory to figure out the instructions of a pattern, which includes studying repeating long-lasting rate patterns and financier psychology.

The most likely count recommends that PEPE remains in wave 3 of a five-wave upward motion, having possibly began wave 4. Wave 3 has almost 2.61 times the length of wave one, a most likely level for a regional top.

Considering that the rejection, PEPE has actually returned towards the $0.00000270 assistance location. If the count is proper, PEPE will bounce at this assistance location and after that start a 70% boost to the next resistance at $0.0000050, which would be a brand-new all-time high cost.

Find out more: 5 Best PEPE Wallets

PEPE/USDT Daily Chart. Source: TradingView

Regardless of the bullish PEPE cost forecast, closing listed below the $0.00000270 horizontal location implies wave 4 will backtrack even more. PEPE might reduce by 25% to the next closest assistance at $0.0000024 because case.

Relied on


All the info included on our site is released in great faith and for basic details functions just. Any action the reader takes upon the info discovered on our site is strictly at their own threat.

ยป …
Learn more