The PEPE price is consolidating today at just under $0.00001300. This follows a parabolic increase that saw it surge by nearly 100% since the lows of May 7. This breakout was after a multiweek accumulation phase, and a clean break from a trendline descending on both the 1D chart and 4H chart.
What’s happening with PEPE’s price?
PEPE’s price action has formed an engulfing bullish candle on the daily chart. It has pushed past multiple resistance zones between $0.00000800 and $0.00001100. The short-term structure is bullish so long as the price remains above the newly established $0.00001200 support.
PEPE is currently hovering between $0.00001206 at the 0.618 level and the 0.5 near $0.00001448, both of which will likely act a short-term resistance. A break above $0.00001450 would allow for a new PEPE price spike towards the 0.382 level at around $0.00001775.
The volatility of PEPE prices increases as bulls test breakout levels
PEPE’s 4-hour chart shows signs of a healthy retracement following its vertical move. Bollinger Bands are rapidly widening, indicating PEPE volatility. The price is still above the 20/50/100/200 EMA Cluster, indicating that the trend still favors the buyers.
The RSI, however, has dropped to 42, after previously reaching near-overbought levels above 70. This indicates that the rally is cooling. The MACD histogram also shows fading bullish strength, with the signal line flattening out and a possible bearish crossover emerging.
If the bulls fail to reclaim the intraday resistance at $0.00001350-$0.00001390, we could see a deeper pullback toward $0.00001200, where the breakout trendline aligns with historical demand. Below that, $0.00001050 is the next major demand area.
The recent rejection at overhead support and decreasing volume suggest that short-term profits are being booked after an explosive rally.
Short-Term Outlook: Cautious Bullish
PEPE’s outlook for May 12 remains cautiously bullish as long as the price holds the $0.00001200 resistance. If the price moves above $0.00001390, it would confirm the upward movement towards the $0.00001500 area. However, if the price fails to hold above $0.00001200, it could trigger a decline toward $0.00001050 or the EMA cluster.
Overall, the structure suggests that bulls will likely continue to move higher if they consolidate above their breakout zone. But traders should be cautious of sharp retracements, given the recent spike in volatility.
PEPE Price Prediction – Key Levels To Watch
PEPE Price Prediction – Key Levels To Watch
|
Zone |
Level (USDT). |
Signal |
| Intraday Resistance | $0.00001350 – $0.00001390 | Near-term rejection zone |
| Short-Term Support | $0.00001200 | Trendline retest zone |
| Deeper Support | $0.00001050 | Demand zone if breakdown |
| Next Upside Target | $0.00001450 – $0.00001775 | Fibonacci resistance |
| RSI (30 min) | 42.17 | Cooling after over-buying |
| MACD | Bearish crossover forming | Momentum fading |
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