With a bearish day after the Ethereum ETF approval, the meme coins are struggling to gain momentum. Amidst such slowdown, the PEPE price shows a similar pullback and warns of a correction under a crucial support.
However, the larger picture with a bullish trend in motion promises a turnaround. Will the uptrend in the PEPE token survive the short-term correction for a bull run this week? Find out more in our PEPE price prediction.
PEPE Price Performance
Following the successful post-retest reversal of a rounding bottom breakout, the PEPE price shows an impressive uptrend. The meme coin has increased its market value by almost 200% in five weeks.
The massive uptrend signals increasing demand for the meme coin as the broader market improves. Further, with the growing anticipations of an altcoin season coming soon, the meme coin is impending to explode for a massive surge.
Currently, the PEPE price trades at $0.00001396 with an intraday fall of 6.15%. This reflects a bullish exhaustion after the 11.52% jump yesterday. If the bulls fail to recover, the exhaustion phase can breach under $0.000013.
Technical Indicators:
MACD: The MACD and signal lines avoid a bearish crossover as they regain an uptrend with a surge in bullish histograms.
DMI: The VI and ADX reflect a bullish trend with increased momentum bolstering a bull run possibility.
Will PEPE Reach $0.000020?
With a bullish trend in motion and the high anticipation of a bull run in the crypto market, the meme coin is ready to jump. However, the short-term correction delays the moonshot rally. If the bull run continues, the PEPE price could breach the 1.618 Fibonacci level at the $0.000019 mark to reach $0.000020.
Conversely, a crack under the $0.00003 mark could retest the $0.000017 mark.
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