Pepe Coin (PEPE) Price Starts Fresh Rally and Eyes More Upsides

NEW DELHI (CoinChapter.com) — Pepe coin (PEPE) is signaling a major bullish breakout above $0.0000110. The price could extend gains if it surpasses the $0.00001350 hurdle.

Key Takeaways:

NEW DELHI (CoinChapter.com) — Pepe coin (PEPE) price started a fresh increase after taking support near the $0.00000765 zone.

The price could extend gains if it surpasses the $0.00001350 hurdle.

Conversely, a failure to clear the stated resistance might spark a downside correction.

Pepe Coin Price Analysis: Key Technical Levels

Pepe coin price found support after a steep decline that brought the price crashing down from highs of $0.000048. A low was formed at $0.00000768, sparking a fresh wave of buying pressure like Bitcoin, Ethereum, and XRP.

From the lows, the price began a strong V-shaped recovery. The first resistance was at $0.0000082, followed by $0.0000090, and finally the $0.0000100 level.

The bulls were able to clear many hurdles and push the price into a positive zone. There was a clear move above the $0.0000110 and $0.0000115 resistance levels.

More importantly, PEPE broke a major contracting triangle with resistance at $0.0000110 on the daily chart.

Pepe Coin Price Analysis: PEPE Chart Shows Bullish Break

The price is up 30% in a day and trading above the 50-day simple moving average (blue). It is now testing the 50% Fib retracement level of the downward move from the $0.0000172 swing high to the $0.00000768 low at $0.00001245.

If the price clears the stated resistance, it could continue to move up sharply. The first major hurdle on the upside sits near the $0.0000135 level. It coincides with the 61.8% Fib retracement level of the downward move from the $0.0000172 swing high to the $0.00000768 low.

A successful close above the $0.0000135 resistance zone could open the doors for more upsides. In the stated case, PEPE price could easily drift toward the $0.0000150 region. The next key resistance is near $0.0000165, above which the price could accelerate higher toward the $0.0000172 level.

Conversely, Pepe coin might fail to clear the $0.0000135 resistance zone. In the stated case, the price could start a downside correction. Immediate support is seen near the $0.0000115 level.

The first major support is near the $0.0000110 level. The main support for the current wave sits near the $0.000010 zone. A downside break below the stated support might spark short-term bearish moves. Any more losses might call for a test of $0.00000765.

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