Key Takeaways:
- Pepe coin price started a fresh increase above the $0.000010 resistance.
- A key bullish trend line is forming with support at $0.000010 on the daily chart.
- The price could continue to rise if it clears the $0.0000120 resistance.
Pepe coin (PEPE) is gaining bullish momentum above $0.000010. The price might surge another 10%-15% unless the bears protect $0.0000120.
Pepe Coin Price Signals Bullish Bias
After consolidating above $0.00000840 for some time, Pepe coin started a fresh increase. There was a steady increase above the $0.00000920 and $0.00000950 resistance levels. The price cleared the $0.000010 resistance to move into a bullish zone like Bitcoin and Ethereum.
During the increase, the bulls even pushed the price above the 61.8% Fib retracement level of the downward wave from the $0.00001191 swing high to the $0.00000840 low.
PEPE is now well above the 50-day simple moving average (blue). It gained over 8% in two days and might aim for more gains. Immediate resistance is near the $0.0000110 level. It is close to the 76.4% Fib retracement level of the downward wave from the $0.00001191 swing high to the $0.00000840 low.
A close above the $0.0000110 level could start another surge. The first key resistance is near the $0.0000120 level. The next resistance is near the $0.0000127 level. Any more gains could set the pace for a steady increase toward the $0.0000140 level. It coincides with the 1.618 Fib extension level of the downward wave from the $0.00001191 swing high to the $0.00000840 low.
Downside Correction?
If not, Pepe coin could start another decline. Immediate support is seen near the $0.000010 level. There is also a key bullish trend line forming with support at $0.000010 on the daily chart.
The first major support is near the $0.00000980 level. A downside break below the $0.00000980 support might start another major decline. The next key support sits at $0.00000840 or the 50-day simple moving average (blue). Any more losses might call for a test of $0.00000720.
Overall, PEPE price is showing bullish signs above $0.000010. If the bulls push the price above the $0.0000120 resistance, there could be a drift toward $0.0000140 or even $0.0000150.
