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Pepe (PEPEUSD) Price Hints at a Notable Recovery

Johnathon Fox
05/07/2024 | UPDATED ON: 05/07/2024

Pepe (PEPEUSD) Price Forecast: May 7
Amid the ongoing market rebound, the Pepe market experienced a notable recovery today rising to its current trading price at the $0.00000883 resistance level. The Bulls are putting a lot of pressure on the coin. On the other hand, if the coin prices hold above the prior high of $0.0000108, the bulls’ trend would likely continue and the upper high level of $0.0000120 might be reached.

Key Levels:
Resistance Levels: $0.00000600 $0.00000700, $0.00000800
Support Levels: $0.00000300, $0.00000200, $0.00000100

PEPE (USD) Long-term Trend: Bullish (Daily Chart)
Pepe market hints at a notable recovery today again and remains strongly bullish in its long-term perspective. The prices are above the moving averages indicating a bullish trend.
Pepe (PEPEUSD) Price Hints a Notable Recovery
The cryptocurrency price has been above the supply trend levels making a notable recovery since its most recent high due to the persistent bullish pressure over the last few days.

With sustained buying, the coin price hints at a notable recovery and challenges another resistance zone of $0.00000883 above the moving averages as the daily chart resumes today, indicating buyers’ attempt to prolong the bullish rally.

Any more attempts by the bulls to retest the previous swing high of $0.0000108 would refute any more negative theories.

Notably, the daily stochastic indicates that the underlying sentiment points to a continuation of the upswing in the upcoming days. Buyers are anticipated to drive the price of PEPEUSD higher to a notable recovery level; in this instance, the $0.0000120 supply level may be the aim in the longer time frame.

PEPE (USD) Medium-term Trend: Bullish (4H Chart)
The PEPEUSD market also hints at a notable recovery above the supply levels in the medium-term outlook. The coin price can be seen progressing upward above the moving averages. This shows that buyers are currently gaining more strength in the market.
Pepe (PEPEUSD) Price Hints a Notable Recovery
Pressure from the bulls at the $0.00000855 high value in the previous action has sustained its notable recovery above the supply levels in its recent high.

PEPEUSD is losing bearish momentum as it hints at a notable recovery and rises to a $0.00000870 high level above the moving averages as the 4-hourly chart begins today. This is due to a high bullish impact on the market price.

Hence, Pepe is showing more upside possibility as shown by the momentum indicator pointing upwards. We can expect more gains and strength from the coin. The pair may likely reach the $0.0000120 upper resistance level in the days ahead in its medium-term time frame.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

View all posts by Johnathon Fox →
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