Pepe Price Prediction: PEPE Surges 12% Amid Trump Win Bull Run, But Investors FOMO Buy This Layer 2 Rival For Parabolic Potential
The Pepe price surged 12% in the last 24 hours to trade at $0.00001263 as of 11:40 p.m. EST on trading volume that skyrocketed 98% to $6.3 billion.
This comes as data from IntoTheBlock says that 86% of Pepe holders are now sitting on profits.
Pepe Price Could Continue Soaring
According to the PEPE/USD chart analysis, the pepe price has broken out of a descending triangle pattern, typically a bullish reversal signal. The breakout above this trendline at $0.000010 suggests buyers have gained momentum, potentially leading to further upside, according to data from GeckoTerminal.
Key support levels are indicated around the $0.0000070 range, where the price previously consolidated. The next resistance appears around the $0.0000150 level, which would be a likely target if the upward momentum continues.
The price of Pepe has now crossed above both the 50-day and 200-day Simple Moving Averages (SMAs), which confirms the uptrend.
Moreover, the current Relative Strength Index (RSI) is at 70.37, indicating an overbought condition. This level suggests that the price has had a strong upward move recently, and some caution is warranted as it could indicate that the asset is due for a short-term pullback or consolidation.
Meanwhile, the Moving Average Convergence Divergence (MACD) Line (blue) is above the Signal Line (orange). This crossover to the upside confirms bullish momentum. The MACD histogram is also positive, supporting the strength of this upward move.
If this momentum continues, the Pepe price could soar even further above, as the bulls target the previous all-time high (ATH) level around $0.00001717.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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