PEPE Price Still Bullish From Here
- 王林Original
- 2024-07-18 22:41:11872browse
Despite being down around 30% from its May 27 all-time high of $0.00001718, the PEPE price is still showing bullish tendencies.
The PEPE price has shown bullish tendencies despite being down around 30% from its May 27 all-time high of $0.00001718.
This could still indicate a continuation, something that pseudonymous crypto analyst “melikatrader94” points out in an analysis on TradingView.
According to the crypto analyst, the PEPE price has bounced off an internal trend line that has been acting as support for the meme coin. As a result, there has been the formation of a double bottom following the most recent price bounce, and this is bullish for price.
Since the PEPE price was quick to react to the internal trend line, the crypto analyst believes that this shows strong buying interest in the meme coin. Furthermore, the chart is showing the formation of an ascending trend line, and given the history of ascending trend lines, then price could continue to rise, as long as it doesn’t break out of this channel.
With the double bottom mentioned above, the PEPE price is already seeing the result of this bullish reversal. If this continues, the price is expected to rise over 150% from here again, reaching a new all-time high of $0.00004128, according to the crypto analyst.
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