Cryptocurrencies

PEPE Coin Price Prediction Remains Bullish Despite A Decent Correction

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Written By: Abdullah Sarwar

Nov 17, 2023, 16:23 GMT 16:23

Summary:

PEPE coin price analysis tells us that the outlook on the memecoin remains positive despite a pullback this week.

Don’t let anyone fool you into believing that the PEPE coin price has flipped bearish. Despite this week’s major pullback, the outlook on the memecoin remains positive as the bullish market structure remains intact. Let me clarify this with the help of technical analysis.

PEPE crypto dipped 1.8% on Friday as the Bitcoin price fell below $36,000. The bearish price action in the biggest cryptocurrency sucked the air out of the altcoins which fell to their fresh weekly lows.

However, PEPE still showed a lot of resistance and showed minor losses compared to the other altcoins which dropped more than 5% on the same day. For a better outlook on the popular memecoin, let’s analyze the PEPE coin price chart on a daily timeframe.

The following chart shows price action on the 1D timeframe. It can be seen that PEPE has broken above the key resistance of $0.00000106. As long as it avoids a breakdown below this level, the price prediction will remain bullish.

At the moment, the frog-themed cryptocurrency is trading well above this level.

PEPE Chart

This post was last modified on Nov 17, 2023, 16:24 GMT 16:24

Written By: Abdullah Sarwar

Abdullah Sarwar is a blockchain analyst and a cryptocurrency investor with more than 5 years of experience. He specializes in providing crypto price projections based on their fundamentals and price charts. He is also a successful day trader. He graduated in 2015 with a degree in electronic engineering. In his free time, he loves listening to electronic music and playing with trading bots.