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**Pepe Coin (PEPE) Pops 10%—Will Bullish Momentum Stick or Snap Back?**
The cryptocurrency market is abuzz with the impressive price action of Pepe Coin (PEPE), which has surged by a whopping 10% in recent days. The sudden and significant increase has left many investors wondering if this upward momentum will continue, or if it’s just a fleeting moment.
Over the past few days, PEPE has seen a remarkable rise from the $0.000010 support zone, echoing similar price movements observed in Bitcoin and Ethereum. This surge took the cryptocurrency above the critical $0.0000110 barrier and then proceeded to settle above the 50-day simple moving average (blue), signaling bullish signs.
A closer inspection of the daily chart reveals a positive sentiment as PEPE has cleared the $0.0000120 pivot level, forming a strong foundation for further growth. In addition, the cryptocurrency has broken through a connecting bearish trend line with resistance at $0.0000118, paving the way for potential higher highs.
Currently, the price is consolidating and may soon break higher above $0.0000135, fueling concerns that this upward trajectory could come to an abrupt end. However, if bulls manage to maintain their dominance, PEPE’s next targets might be $0.0000140, with further resistance at $0.0000150. In the event of a successful breach of these levels, the cryptocurrency would likely continue its upward momentum towards $0.00001620 and potentially even $0.000020.
But what happens if this bullish trend is interrupted? If PEPE experiences a correction, immediate support lies around $0.0000120 and the 50-day simple moving average (blue). However, if this level fails to hold, the cryptocurrency would likely encounter more substantial resistance at $0.0000110, before potentially plummeting towards $0.00000750.
In conclusion, while PEPE’s sudden 10% gain has sparked excitement among traders, it remains crucial for investors to remain cautious and vigilant as market trends can shift quickly.
Source: coinchapter.com
