Pepe (PEPEUSD) Price Forecast: May 10
PEPEUSD shows stability as it approaches the upper resistance level. The coin breakout after a constructive pullback to a $0.00000838 retracement level points to a higher potential for buyers to lead an extended recovery trend. Hence, the coin price will move higher above the current resistance level, if buyers should exert more force into the price action in the market, the $0.0000120 high trend line might be the target. Thus a relief signal for buy traders.
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)
PEPEUSD remains bullish and shows stability as it approaches the upper channel in its long-term outlook. The bulls are trying not to fall this time around. Further, the coin prices are traded above the EMA-50, this confirms a bullish trend.
The successful breakout by the bulls to the $0.00000824 supply value during yesterday’s session has made it possible for the Pepe market to show stability above the supply levels in its recent high.
The bulls continued with the up north journey and caused a rise to the $0.00000838 high level above the moving averages as the daily chart opens today, as it approaches the upper level. This indicates that the traders are actively buying at this level.
Hence, a strong push above the $0.0000108 supply level will offer strong resistance to the crypto price and also show stability in the crypto price.
Additionally, the Pepe market may continue to show stability in the price above the resistance levels as indicated by the daily signal pointing in an upward direction; this will quicken the emergence of more buyers to move the price up to a significant level in the upside and this might hit the $0.0000120 supply trend mark in the coming days as the PEPEUSD market continue to show stability above the supply levels in its higher time frame.
PEPE (USD) Medium-term Trend: Bullish (4H Chart)
The coin price also shows stability above the supply levels and trades in a bullish trend market in the medium-term outlook. This is due to the high impact of the long-term traders on the price flow. The PEPEUSD pair is in a smooth uptrend as can be seen from the chart below.
The high bullish impact on the crypto at the $0.00000816 high level in the previous action has enabled the coin price to show stability above the resistance levels lately.
On the 4-hourly chart today, there is a broader recovery in the prices. The cryptocurrency shows stability in price as the price of Pepe jumped up to a $0.00000838 high level above the moving averages as the bulls took to their stand in the market.
This bullish correction, however, indicates a gradual improvement in market sentiment and leads to more intraday gains in assets to higher prices.
In addition, more upsides are still coming as shown by the stochastic oscillator pointing upwards to indicate an uptrend. With the look of things, the bullish rally may therefore head towards the $0.0000120 high value in no long time as the PEPEUSD price shows stability above the supply levels in the medium-term time frame.
Buy Pepe on Longhornfx
Leave a Reply