- PEPE could soar by 22% to hit the $0.000022-level if the sentiment remains unchanged
- Memecoin’s RSI suggested that PEPE may have enough room to rally significantly on the charts
In simpler terms, the digital currency PEPE, which is currently the third-largest meme coin, appears ready to experience significant growth in value. This potential surge could be triggered by the formation of a favorable price trend on its daily charts.
Reasons behind PEPE’s latest price surge
The attitude towards the meme-coin changed following news that the U.S. Securities and Exchange Commission (SEC) plans to examine ongoing cases and halt ones not associated with fraud, suggesting a more regulatory approach.
Under Donald Trump’s administration, changes in the SEC had a favorable impact not only on PEPE but also the broader cryptocurrency market. As soon as this news was announced, coins like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) all saw significant increases in their prices.
Expert’s buy signal for PEPE
In response to the recent surge of the meme coin PEPE, well-known crypto expert Ali recently posted on his platform (previously known as Twitter) about a technical predictor called TD Sequential triggering a buy signal for PEPE on its daily graph.
As I examined the data today, I noticed that according to my analysis, PEPE appears to have broken free from a lengthy consolidation phase close to a crucial support level. This buy signal seems to have been triggered following yesterday’s market rally.
PEPE’s price action and key levels
Additionally, it seems that PEPE’s day-to-day graph is shaping up as a double bottom bullish pattern, suggesting a strong possibility of significant price increase in the near future provided the current sentiment persists.
As an analyst, I’d like to bring your attention to the fact that while the memecoin had a remarkable surge of 14%, it appears to be adjusting or correcting its course as we speak.
According to AMBCrypto’s technical assessment, the token PEPE appears to be maintaining a bullish trend. This is particularly notable because it has been observed trading above its 200-day Exponential Moving Average (EMA), which on the daily chart suggests an upward trajectory, indicating a positive trend.
Currently, as I observe the market dynamics, it appears that PEPE’s Relative Strength Index (RSI) is sitting below the overbought threshold following a notable price escalation. This might imply that there could be potential for a substantial upward trend in PEPE.
PEPE price prediction
Given its latest price trends and past performance, if current market feelings persist, PEPE might experience a significant jump of approximately 22% to reach around $0.000022 initially. If it surpasses this level, there’s potential for further growth, possibly reaching the $0.0000269-mark in the long term.
PEPE’s day-to-day graph hinted at a possible breaking point for its double-bottom pattern around the $0.000022 mark, given the current sentiment persists.
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2025-01-17 00:07