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Pepe (PEPEUSD) Price Shows a Fundamental Growth above the supply level

Johnathon Fox
10/31/2023 | UPDATED ON: 10/31/2023

Pepe (PEPEUSD) Price Forecast: October 31
PEPEUSD holds a recovery opportunity and also shows fundamental growth above the $0.0000011411 resistance level with a bullish reversal pattern. The coin may likely bounce up further if the bulls could add more aggression to their buying motives and sustain above the pattern supply trend line at the $0.0000017647, the coin price may trigger up to the overhead resistance mark at the $0.0000020000 level, a clear buy signal.

Key Levels:
Resistance Levels: $0.000001000 $0.000001100, $0.000001200
Support Levels: $0.000000800, $0.000000700, $0.000000600

PEPE (USD) Long-term Trend: Bullish (Daily Chart)
The long-term market value of Pepe is moving in a bullish direction. Further, the coin price shows a fundamental growth above the supply trend levels indicating a strong bullish momentum.
Pepe (PEPEUSD) Price Shows a Fundamental Growth above the supply level
The sustained bullish pressure in the past few days has made it possible for the crypto price to remain above the resistance level in its recent high.

The bulls are not relenting, an increase in price to the $0.0000011863 supply value above the EMA-50 as the daily session opens today, indicates or shows a fundamental growth that the buy traders are actually on top of the market at the moment. This breakup may accelerate the bullish momentum and extend the ongoing correction to a higher level.

In addition, a bullish impact by the buy investors toward the higher side is likely as indicated by the momentum indicator pointing in an upward direction, the bulls could therefore aim at the psychological level of $0.0000020000 upper resistance value in the days ahead as the PEPEUSD remains firm and shows a fundamental growth above the supply levels in its long-term perspective.

Hence, a bullish impact by the buy investors toward the higher side is likely as indicated by the momentum indicator pointing in an upward direction, the bulls could therefore aim at the psychological level of $2.000 upper resistance value in the days ahead as ARBUSD remains firm above the supply levels in its long-term perspective.

PEPE (USD) Medium-term Trend: Bullish (4H Chart)
The Pepe price also shows a fundamental growth above the supply levels in the medium-term outlook. This is due to the high impact of long-term traders on the price flow.
Pepe (PEPEUSD) Price Shows a Fundamental Growth above the supply level
The bullish impact on the cryptocurrency to the $0.0000011411 supply level during the previous action has sustained its growth above the supply levels in its recent high.

Today, the bulls made an upward move again to the $0.0000011863 high value above the moving average line as the 4-hour chart opens.

The PEPEUSD price looks promising as the bulls remain dominant in the market at the moment. If the bulls should increase their price action, and bullish momentum is sustained far above the resistance trend lines, further bearish sentiment will be hibernated.

Additionally, should the coin buyers add an extra effort to their buying pressure and the coin price shows a fundamental growth above the $0.0000013557 previous supply trend line, the market participants may witness a new recovery rally and this may likely reach the $0.0000020000 upper high level in the days ahead in its medium-term perspective.

Buy Pepe on eToro

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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.

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