Pepe Coin Price Analysis: Breakout and Pullback

Pepe Coin's price has recently experienced a surge, breaking out of its previous downtrend and exhibiting a rounding pattern breakout rally.

On May 20, PEPEcoin saw a significant price increase, reaching a new high of $0.00001576 on May 23, marking a substantial 73% gain.

However, following the approval of the Ethereum ETF, meme coins, including PEPE, encountered a bearish trend, facing challenges in regaining momentum.

Despite the general slowdown, PEPE's price has shown a pullback, suggesting a potential correction towards a crucial support level.

The price of Pepe has retraced from the 1.236 Fibonacci level and is currently testing support at the 1 Fibonacci level.

If a price correction occurs, PEPE's price could initially decline to $0.0000122, potentially leading to a rebound and triggering another bullish rally.

According to Coingabbar predictions, if the bullish momentum continues, PEPE's price could exceed the 1.618 Fibonacci level, reaching $0.000020.

KEY LEVELS:

• RESISTANCE LEVEL: $0.000016000-$0.000020000
• SUPPORT LEVEL: $0.000011000-$0.000007800

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