- PEPE has shown a daily price increase of 7.28% fueled by the altseason momentum.
- The memecoin’s trading volume has surged by 17.54% in the last 24 hours.
The most recent price cycle brought astonishing news to the crypto community. This Altseason was led by Ethereum, the altcoin that had docked at a price consolidation for several months. Following its surge, other cryptocurrencies also showed their upward movements. Additionally, Bitcoin also showed a 2% price increase hitting $95K.
Moreover, within the memecoin sector, leading tokens such as DOGE and Shiba Inu have reversed gears to become bullish again. Meanwhile, frog-based memecoin PEPE, after its significant dip, has begun to show signs of recovery. In the last 24 hours, the token recorded a 7.28% price increase, bouncing off from its support levels.
In the afternoon hours of November 27, the memecoin was trading at $0.00001821. Following this it surpassed the previous resistance at $0.000019 and is currently closing towards its next crucial resistance at $0.00002. At the time of writing, PEPE was trading at $0.00001968 as per CMC data.
Zooming out, inferring its weekly chart, PEPE reflects a brief descent in the middle of the week. The memecoin, as aforementioned, is attempting to recover its bullish trend in the past day, after the downward trend put a dent in its monthly and weekly price progression.
Will PEPE Price Recover Into a Bull Run?
Inferring to PEPE’s price chart, it depicts a horizontal channel pattern. This suggests PEPE entering a consolidation phase, days after hitting its new ATH on November 14. The horizontal channel pattern suggests that the cryptocurrency could either witness a price breakout or allow for a bearish takeover.
PEPE/USDT Daily Price Chart (Source: TradingView)
The cryptocurrency’s Moving Average Convergence Divergence (MACD) signal line stands below the MACD line. This further suggests the memecoin’s downward trend. However, PEPE’s bull power indicator’s value resides at 5.31. The bear power indicator value is at -2.80 as per TradingView data.
It can be inferred from this that PEPE holds the potential and is attempting to turn bullish. In such a case, the cryptocurrency’s bullish price prediction by TheNewsCrypto analysts for this year is $0.00003600.
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