Pepe (PEPEUSD) Price Forecast: August 28
An aggressive bearish move has dropped the PEPEUSD price below the supply trend lines, so, there is a possibility for the pair to experience a bullish pattern breakout action and the price could rebound at the $0.000000873 support value soon for another upward move potential. If the forces from buyers in the market should increase and the current support holds, the coin price may retest the previous high of $0.000001445 which might extend to the $0.000001500 upper supply mark and beyond.
Key Levels:
Resistance Levels: $0.000001100 $0.000001200, $0.000001300
Support Levels: $0.000000900, $0.000000800, $0.000000700
PEPE (USD) Long-term Trend: Bearish (4H Chart)
As an outcome of low bullish momentum, PEPEUSD prices are seen trading below the moving averages, indicating a bearish trend in its higher time frame.
The aggressive move by the short traders to a $0.00000081 low value in the past action has slowed the coin price in recent times.
Action from the sell traders further dumped the crypto price to the $0.000000873 support level as the 4-hour session resumes today. A potential bounce from the lower trend line could push the PEPE price back above $0.000001445.
Additionally, Pepe’s price may rebound at the current support as the coin market now approaches the oversold region of the daily stochastic. This will enable buyers to take over and push the price higher. The next price target could be the $0.000001500 high mark soon.
PEPE (USD) Short-term Trend: Bearish (1H Chart)
The prices of PEPEUSD can also be seen below the moving averages on the short-term outlook. The selling pressure on the coin in the past few hours has made the crypto price remain below the supply levels in recent times.
The rising selling pressure dropped the price of Pepe to a $0.000000873 low value as the 1-hour chart opens today.
Should buyers prove stronger and push harder, the coin price could turn positive to hit the $0.000001140 resistance level.
Furthermore, there is a possibility for the crypto price to rebound at the $0.000000873 support value soon, as the market has reached the oversold region. If buyers could achieve this, the price of PEPEUSD might hit the $0.000001500 high mark in the coming days.
Buy Pepe on eToro
Leave a Reply