A wave of 61% rises await PEPE, are we facing an imminent price breakout? – Source: Cryptonews With Pepe Coin-PEPE’s relative price holding below $0.0000080, analysts expect an imminent price breakout to the upside, with some even predicting that the price could retest its July July highs of $0.000013, which would represent a 61% rise.
But so far, the price of PEPE has been stuck in an extended downtrend since hitting its May May highs, recently settling below the line of the 200-Day Moving Average (DMA-200) indicator line at $0.0000085, which currently represents a key resistance barrier; however, this does not mean the bears will win, as Federal Reserve Chairman Jerome Powell is expected to give the green light today to a series of rate cuts.
Bloomberg Opinion columnist Mohamed El-Erian explains the three things he wants to hear from Federal Reserve Chair Jerome Powell at this week’s Jackson Hole economic symposium https://t.co/Dcu3EzbnAP pic.twitter.com/sD8BOtzmlr
— Bloomberg TV (@BloombergTV) August 22, 2024
Is there an imminent bullish breakout of the price of Baby’s coin?
Lowering interest rates within the US would undoubtedly mean an imminent improvement in liquidity, as new liquidity usually looks for a home in riskier assets, which could spur the start of the LGBT season again. As one of the leading pioneers of this category, PEPE can undoubtedly benefit from this uptrend.
Soon, the PEPE may retest the upper boundary of its downward range of around $0.000011, and a successful breakout could trigger a retest to July July highs of $0.000013, which would represent a 61% rise from current levels.
Read also:Dogecoin price moves hit a solid barrier, will it be able to surpass the $0.15 mark?
On the other hand, the arrival of new liquidity may stimulate the upcoming meme season, and it will not stop there, as the price of PEPE and other prominent meme currencies may witness rising waves that push it to record unprecedented levels that may reach two or three times compared to their highest levels recorded so far. Therefore, PEPE is one of the best currencies to buy right now, but it should be noted that meme trading is not suitable for the faint of heart.
The post 61% rise awaits Baby’s coin, is an upside breakout on the horizon? appeared first on Cryptonews Arabic.
What stock should you buy in your next trade?
With stock valuations soaring in 2024, many investors feel uncomfortable investing more money in stocks. Not sure where to invest your money now? Check out our proven portfolios and discover high-potential investment opportunities.
In 2024 alone, ProPicks’ AI identified two stocks that jumped more than 150%, 4 more that jumped more than 30%, and another 3 that rose more than 25%. This is an impressive record.
With portfolios specifically designed to follow Dow Jones, S&P, technology and mid-cap stocks, you can explore various wealth building strategies.
