Pepe Coin Price could see a 68% price increase if it overcomes strong resistance, but it may drop if it fails to break key levels.

PEPE Coin is a popular meme coin, might go up by 68%, but it’s facing some problems. The coin was recently listed on the Hong Kong-based HashKey exchange, which is a big step. However, its price is having trouble because of obstacles that could either make it go up or down. This article explains what is happening with Pepe Coin now and what needs to happen for the price to rise.

Pepe Coin Price Faces Resistance Despite HashKey Listing

Pepe Coin Price recently reached an important milestone by getting listed on the HashKey exchange, a major cryptocurrency platform in Hong Kong. This listing could help the coin gain more attention and make it easier for people to trade. However, the price of PEPE is facing a tough resistance level, which is preventing it from fully reaching its potential for growth.

As of the latest London trading session, Pepe Coin’s price hovered around $0.00000785, reflecting a modest 1.3% increase over the last 24 hours.

While the recent price increase is a good sign, the market is unsure about PEPE’s future. Some investors are hopeful and believe the coin has long-term potential, but others are worried and think the coin might not be able to keep going up.

Whales vs. Retail Traders: The Battle for Pepe Coin’s Future

The current pause in Pepe Coin price is because of a fight between big holders, called whales, and regular traders. Whales are buying more PEPE because they think the price will go up later.

On the other hand, regular traders are being careful. Many are selling their short positions to make a profit and aren’t ready to buy more. Data from Coinglass shows that open interest (OI) for PEPE has gone down while the price has gone up. This usually means that traders are closing their short positions. However, when we look at the cumulative volume delta (CVD), we see that both OI and CVD are falling. This means that long positions are also being closed. This is often a bad sign, showing that traders don’t have much confidence in keeping the coin for a long time.

Even with this, whales are not worried. Data from Sentiment shows that whale activity has increased in the last 48 hours. There are more transactions from addresses with over $5 million in PEPE.

Technical Analysis: Can Pepe Coin Break Through Resistance?

The Pepe Coin price chart shows a pattern called a descending wedge. This pattern can be a good sign if the price breaks above the wedge’s resistance. For Pepe Coin to start rising, it needs to break through a key resistance level at $0.00000836, which is close to the 200-day Exponential Moving Average (EMA).

If Pepe Coin price goes above this level, it might form a pattern called a double-bottom reversal. This could make the price go up by 68% to $0.00001200. If that happens, the price might rise even more, possibly reaching $0.00001800.

What If Pepe Coin Fails to Break Resistance?

If Pepe Coin doesn’t manage to stay above the 200-day EMA at $0.00000836, it could be a bad sign. The price might drop to $0.00000700 or even lower, possibly going below the support level at $0.00000477. If this happens, it would mean the current positive outlook is not likely, and the price could keep going down.

In summary, Pepe Coin Price could rise by 68%, but it faces strong resistance that might cause the price to go up or drop. Investors and traders should watch key resistance levels and market signs closely to see where the coin might go next.

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