Pepe price prediction
Pepe sharply rose from the 50-day SMA ($0.000008) and broke above the overhead resistance of $0.000011 on May 8.#NewsTrade
The rise pushed the RSI into the overbought zone, signaling that a correction may be near. The PEPE/USDT pair could drop to the breakout level of $0.000011. If the price recovers from $0.000011, it suggests that the bulls have reversed the level to support. This increases the prospects of a rise to $0.000017 and then to $0.000020.#BTCBackto100K
This optimistic view will be negated in the short term if the price falls and stays below the 20-day EMA ($0.000009).
The 4-hour chart shows that bears are aggressively defending the level of $0.000014. This could pull the price down to the 20 EMA, a vital level to keep an eye on. If the price recovers from the 20 EMA, the bulls will make another attempt to push the pair above $0.000014. If successful, the pair could rise to $0.000017.
On the other hand, a breakout and closing below the 20 EMA could take the pair to $0.000011. Buyers are expected to defend the level of $0.000011 with all their might, as a drop below it could extend the pullback to the 50 EMA.$PEPE
