$PEPE
🚨 Pepe Price Forecast: Bulls take control of the momentum 🚨
Pepe's price on the weekly chart shows that it has retested and found support around the weekly support level of $0.0000125 since last week. As of this week, this level holds strong, and when writing on Wednesday, PEPE trades around $0.000013.
If the weekly level at $0.0000125 remains strong, PEPE could extend the rally to retest the 50% Fibonacci retracement level (drawn from the December high of $0.0000283 to the March low of $0.0000052) at $0.0000168, nearly 30% higher than current levels.
The Relative Strength Index (RSI) on the weekly chart reads 57, above its neutral level of 50, indicating bullish momentum. Additionally, the Moving Average Convergence Divergence (MACD) on the weekly chart showed a bullish crossover in early May. It also shows rising green histogram bars above its neutral zero line, suggesting bullish momentum gaining traction and continuing an upward trend.
The daily chart also suggests a bullish projection. Pepe price has retested and found support around its daily support of $0.0000130 since the start of this week until Tuesday. At the time of writing on Wednesday, it is higher by over 5% at around $0.0000139.
If Pepe continues its upward trend, it could extend the rally to retest its next daily resistance at $0.0000165.
The RSI on the daily chart reads 66, below overbought conditions, with room for upward momentum. However, the MACD indicator lines on the daily chart are coiling together, indicating indecisiveness among traders. If the MACD flips a bullish crossover, it would give a buy signal and further support the bullish thesis.
However, if PEPE faces a correction, it could extend the decline to retest the 200-day Exponential Moving Average (EMA) at $0.0000107.