PEPE Faces Resistance at $0.0000020 Despite Recent Rally
Over the weekend, PEPE, a meme coin, managed to rally and double in price. However, it was not enough to break the key resistance at $0.0000020. The price made a lower high – a bearish signal – when sellers came in strong and stopped the rally. Currently, the support level is at $0.0000011. The trading volume increased over the weekend but faded quickly as buyers could not sustain the rally. For PEPE, the bias is bearish as long as it can’t break the key resistance.
Key support levels for PEPE are at a minimum of $0.0000011 with key resistance levels being $0.0000020. The current trend shows that buyers are cashing out, leading to a bearish outlook for the meme coin.
It is still too early to make a definitive short-term prediction for PEPE, but it appears that the coin is unable to break higher at this time. With buyers absent, it is likely that PEPE will continue to range under the key resistance at $0.0000020 for the remainder of the week.
Important quotes:
“The bias for PEPE is bearish so long it cannot break the key resistance.”
“Currently, the support level is at $0.0000011.”
Hyperlinks:
Cryptocurrency charts by TradingView.
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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