In May, the #Pepe memecoin saw significant price gains, hitting an all-time high of $0.00001725 on May 27th.
Over the past three weeks, Pepe's price has been in a descending channel pattern, losing momentum.
After dipping, Pepe found support around $0.0000100 and the 61.80% Fibonacci level, leading to renewed bullish activity.
On the daily chart, $Pepe is currently trading between the 50-day and 100-day moving averages.
If bulls manage to break above the descending channel and surpass the 50-day moving average, a strong uptrend could develop.
According to Coingabbar prediction, Failure to regain momentum might push Pepe towards its recent low of $0.00000880.
With inactive bearish pressure, Pepe's price is anticipated to rise and potentially exceed the 0.786 Fibonacci level at $0.00001374.
KEY LEVELS :
RESISTANCE LEVEL : $0.00001400-$0.00001750
SUPPORT LEVEL : $0.00001000-$0.00000760
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
