Pepe Coin Price Analysis: 12% Rally Signals PEPE Breakout To $0.00002 As Ethereum ETF Hype Thaws

PEPE Price Analysis: Pepe price has been on an uptrend for the past 7 days, increasing by as much as 80%. This surge has been accompanied by a pattern of higher highs and higher lows, indicating a strong bullish trend for this frog-themed memecoin. 

Following the Ethereum ETF approval news last week, Pepe’s momentum surged without significant retracement, contrary to typical market behavior after such breakouts. The price of PEPE today is $0.00001674, a 12% increase in the last 24 hours and an 80% increase in the past 7 days. What’s next for PEPP?

PEPE Coin Price Analysis: All-Time High After All-Time High

The pepe price has reached a new all-time high of $0.00001706, merely a week after its previous record peak, data from CoinGecko shows. As an ERC20 coin, it continues to ride the wave of hype generated by the ETHETF approval news.

The bullish momentum for Pepe remains robust, as evidenced by the increasing number of PEPE coin holders, which currently stands at 231,977, marking a 0.26% rise over the past 24 hours.

The PEPE price analysis shows that there’s a solid support around $0.00001387, attracting investor interest for potential entry points after a retracement. Moreover, the price is consistently trading above both the 50-day and 200-day simple moving averages (SMAs), further validating the bullish sentiment.

In an inverse scenario, having spiked almost 2X in less than two weeks, Pepe’s price may experience some cool down soon before new buy volume streams in. Key support areas for Pepe coin price may be around $0.00001387 and $0.00001100.

Currently, the Relative Strength Index (RSI) sits at 69.44, just slightly below the overbought (OB) threshold. Investors may want to keep a close eye on market sentiment, particularly regarding Ethereum ETF news, at this level.

PEPE Price: Future Outlook

Pepe coin’s price outlook appears to be bullish as the price action continues on an upward trajectory. Up ahead, the Pepe coin price is expected to tackle some key resistance levels around $0.0001863, $0.00002123, and $0.00002607. 

Pepe recently broke out of a 5-month ascending triangle pattern. According to technical analysis, the profit margin for such a breakout could potentially reach approximately $0.00002090. This suggests that investors might encounter stronger resistance around this price level.

Furthermore, if the bullish momentum continues, Pepe coin’s price could potentially surge another 25% from its current position.

Bottom Line

As the Ethereum ETF news matures, more volume may trickle into ERC20 meme coins such as PEPE. Investors will be closely watching the price of Pepe as it approaches its key resistance areas, as the PEPE price analysis shows. For now, PEPE remains one of the hottest crypto assets in the space. 

The post Pepe Coin Price Analysis: 12% Rally Signals PEPE Breakout To $0.00002 As Ethereum ETF Hype Thaws appeared first on CoinGape.