$PEPE - Prediction of Pepe's price, it surged sharply from the 50-day SMA (USD 0.000008) and broke above the upper resistance of USD 0.000011 on May 8.

The rally has pushed the RSI into overbought territory, indicating that a pullback may be near. The PEPE/USDT pair could drop to the breakout level of USD 0.000011. If the price bounces from USD 0.000011, it suggests that the bulls have turned the level into support. This improves the prospects for a rally to USD 0.000017 and then to USD 0.000020.

This optimistic view will be negated in the short term if the price retraces and falls below the 20-day EMA (USD 0.000009).

The 4-hour chart shows that bears are aggressively defending the level of USD 0.000014. This could lower the price to the 20-day EMA, which is a vital level to keep in mind. If the price rebounds from the 20-day EMA, the bulls will make another attempt to push the pair above USD 0.000014. If they succeed, the pair could rise to USD 0.000017.

Conversely, a break and close below the 20-day EMA could sink the pair to USD 0.000011. Buyers are expected to defend the level of USD 0.000011 with all their might because a drop below could extend the pullback to the 50-day SMA.