The post PEPE Price Retest In Action: Plans A Reversal Rally of 40%! appeared first on Coinpedia Fintech News
Exiting the falling channel, the PEPE price trend hatches a long-term bullish pattern to prolong the uptrend. With an inverted head and shoulder pattern, the daily chart signals a solid bullish comeback for the meme coin.
Therefore, despite the recent correction earlier this week, the buyers plan a rebuttal to revive the bullish momentum. Further, with the high anticipations for a bullish reversal, the PEPE coin price prediction eyes a stronger rally to end 2023.
Source: Tradingview
Bouncing higher with the dynamic support of the 50D EMA, the PEPE price ignites the December rally. Further, the 32.99% in the last 14 days, the meme coin is preparing for a bull run to cross higher levels.
The meme coin shows a morning star pattern forming at the $0.0000014 support zone with long tail candles. Further, the rise in the top meme coins like Dogecoin and Shiba Inu reflects a sectoral turnaround.
Currently trading at $0.00000144, the PEPE coin shows a bullish intraday growth of 2.44%, attempting to prolong the uptrend after the morning star formation.
Technical indicators:
EMA: From providing dynamic support to a bullish crossover with the 200-day EMA, the trend in 50D EMA signals a healthy uptrend.
MACD: The MACD and signal lines merge to tease a bearish crossover due to the recent retest phase. However, a potential bullish turnaround with a successful retest will realign the average lines and reignite the positive trend. Hence, the momentum indicator supports the reversal possibility.
Will PEPE Price Jump 40% This Year?
With Bitcoin bouncing back from $40K to cross $42K, the meme coins get the opportunity to cash in the bullish momentum. If the sprouting reversal rally gains momentum, the PEPE price rally can reach the $0.00000185 mark, accounting for almost a 40% hike.
However, a pullback under $0.000001185 can drop the prices to $0.0000010.
