Key Takeaways:
- Pepe coin price rallied over 75% in a week and traded to a new all-time high above $0.000025.
- It cleared a major contracting triangle with resistance at $0.000010 on the weekly chart.
- The price could start another increase above the $0.0000220 resistance.
Pepe coin (PEPE) is catching up with Bitcoin and is up over 75% in a week. The price is consolidating and aims for a fresh surge above $0.0000220.
Pepe Coin Price Claims $0.000020
In the past few days, Pepe coin price saw a strong increase from the $0.000080 support zone. Bitcoin’s surge and Dogecoin’s rally sparked positive moves in PEPE. There was an upside break above the $0.000010 and $0.000011 resistance levels.
In major news, crypto exchanges Robinhood and Coinbase announced the listing of Pepe Coin on their respective trading platforms.
The price cleared a major contracting triangle with resistance at $0.000010 on the daily chart. The bulls pumped the price above the $0.000020 resistance and the 1.236 Fib extension level of the downward move from the $0.0000172 swing high to the $0.00000630 low.
The price traded to a new all-time high above $0.0000250 and settled well above the 50-week simple moving average (blue). It even spiked above the 1.618 Fib extension level of the downward move from the $0.0000172 swing high to the $0.00000630 low.
PEPE is now consolidating gains near the $0.0000210 level and might soon aim for another increase. Immediate resistance on the upside is near the $0.0000220 level.
The main hurdle seems to be forming near the $0.000024 region. A successful close above the $0.000024 barrier could open the doors for a fresh surge. In the stated case, the price could easily drift toward the $0.0000285 level.
If the bulls push the price above the $0.0000285 level, it could set the pace for a move toward the $0.000030 resistance. The next key resistance could be $0.0000320, above which the price could accelerate higher toward the $0.0000350 level.
Downside Correction?
Conversely, Pepe coin could fail to clear the $0.0000240 resistance zone and start a downside correction. Immediate support is near the $0.000020 level.
The first major support is near the $0.0000180 level. A downside break below the $0.0000180 support might spark major bearish moves. The next key support sits at $0.00000145. Any more losses might call for a test of $0.0000120.
Overall, PEPE price is consolidating gains above the $0.000020 zone. If the bulls remain in action, they could pump the price $0.0000220 and $0.0000240 for a new all-time high.
