🐸 PEPE Price Consolidating, May See Breakout In November
Pepe (PEPE/USDT) is currently trading in a consolidation phase near $0.00000999. The price is down 1.88% for the day, indicating mild bearish sentiment, but it remains above key support at $0.00000980.
According to analysts predictions November could be pivotal, with the potential for a significant breakout if resistance at $0.00001047 is breached.
🔸 PEPE Price Action and Technical Indicators Show Consolidation
PEPE is moving sideways without any good momentum in the direction. Support holds at $0.00000980, and resistance is seen at $0.00001012. The Relative Strength Index (RSI) stands at a neutral 50.93, suggesting a balanced market.
The MACD line is at 0.00000031 below the signal line. This indicates mild selling pressure, but the distance between the two lines is small. Moreover, the consolidation phase has kept PEPE’s price in a narrow range, awaiting a breakout or breakdown.
A rally above the $0.00001012 resistance could spur price beyond the uptrend line, while a downside below $0.00000980 risks triggering further price weakness.
🔸 Potential Breakout Expected in November
Crypto analyst Ivan Labrie says PEPE is about to breakout and he believes it will happen in November. A long-term bullish rally will not commence until it breaks the resistance at $0.00001047. If this level breaks then Labrie projects the price could move up sharply.
#Pepe shows a nice base here, a breakout during November would set the stage for a gigantic rally for 7 months.Weekly trend turned bullish again recently, monthly needs a push next month to break free from resistance here.— Ivan Labrie
If the breakout occurs, Labrie points to two major price targets. Their first target is $0.00004508 a price increase of 450.77%. The second, longer-term goal is $0.00035547, measuring a 3,551.13% increase.
Trading volume is still low, which says the market is still waiting for a significant catalyst. If the breakout occurs in November.
