Crypto price prediction: PEPE coin bullish trend is waiting, if successfully breaks the resistance

Pepe crypto price analysis:

PEPE coin price prediction

 In the past 24 hours, PEPE's price has surged by 25%, breaking away from the broader cryptocurrency market's end-of-year volatility. This increase comes as large investors whales have begun buying PEPE aggressively. The big question now is whether PEPE can surpass the resistance level of $0.000025.

Despite a generally tough period for cryptocurrencies, PEPE has stood out. As global markets faced significant volatility in the final hours of 2024, PEPE's price rose notably. While major cryptocurrencies like Bitcoin and Ethereum struggled to maintain their key levels, and other memecoins like Dogecoin and Shiba Inu experienced significant losses, PEPE's price climbed from $0.000017 on Monday to $0.000021 on Tuesday, according to TradingView data. This 25% increase made PEPE the best-performing asset among the top 20 cryptocurrencies on the last trading day of the year.

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PEPE's strong performance has been remarkable, considering it has delivered a 1,500% return over the year and reached a market capitalization of $8.3 billion. This positions PEPE as the third-largest memecoin, just behind Dogecoin and Shiba Inu. However, technical indicators suggest that PEPE might face challenges as it approaches the $0.000025 resistance level. In mid-December, a significant sell-off occurred at this price point, creating a potential obstacle for PEPE's continued rise.

Technical analysis shows mixed signals for PEPE's future movement. The Moving Average Convergence Divergence (MACD) indicator on the daily chart shows limited bullish momentum, with low trading volumes and weak demand. The Relative Strength Index (RSI) is at 47.40, indicating little bit downfall market conditions. While there is room for further upward movement, the RSI hasn't reached overbought levels, suggesting the current rally might lack the strong momentum needed to break through significant resistance.

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If PEPE can break above the $0.000025 resistance, it could trigger a broader bullish trend, with the next target being $0.000030. This would likely require renewed interest from large investors or a significant shift in market sentiment. However, if PEPE fails to overcome this resistance, it might enter a consolidation phase, potentially retesting lower support levels. A drop below $0.00001746 could invalidate the current bullish trend and lead to further declines toward $0.00001441