What’s Next for PEPE Coin Price; Will the Memecoin Grow or Fall?

The post What’s Next for PEPE Coin Price; Will the Memecoin Grow or Fall? appeared first on Coinpedia Fintech News

PEPE coins have gained immense attention in recent times, with a magnificent jump of more than 3000% within a month. The token jumped and rose within the top 50, but before securing the levels, it triggered a fatal drop, losing more than 50% of its gained value. The token continues to drop while the meme-coin season gains significant momentum. 

The token managed to break the resistance line and the crucial price reversal zone with a long green candle with a huge volume and also created another one with a high volume to confirm the break. Presently, the price has broken down from one of the important support zones but continues to flash 2 possibilities of a 100% rebound or a 70% drop. 

Trading View

The price has now dropped below the crucial ascending triangle, which carried the possibility of a bullish breakout. Currently, the RSI is heading towards oversold levels while the ADX is also bearish, indicating the possibility of a bearish trend continuing until it reaches the lower support at $0.00000143. If the price fails to hold the levels, then extended bearish sentiments may drag the price toward the next lower target at $0.0000008155.

Although a bullish rebound appears to be the need of the hour, the trend is expected to remain bearish for a long time. Hence, more gains could vanish as the PEPE price may drop hard and add yet another zero to its price. Moreover, the market sentiments are believed to prevail for a long time, which may diminish the possibilities of a healthy rebound at the moment.