- Classy Crypto predicted in his latest YouTube video that PEPE may experience a big move in the next few weeks.
- The meme coin’s price has risen more than 70% over the past week.
- PEPE’s 24-hour performance was in the red zone despite its weekly gain.
In a YouTube video posted earlier today, the crypto influencer Classy Crypto predicted that Pepe (PEPE) will experience a major move in the next few weeks. The main motivation behind his positive outlook for the meme coin was that the project had delivered on everything that it said it would so far, said the influencer.
Classy Crypto highlighted the fact that PEPE has risen more than 70% over the last week. He believes that this positive price movement will continue in the weeks to follow due to the low expectations surrounding the project. He added that this is a stark contrast to many altcoins that have let down investors by not achieving what they originally planned to in their roadmaps.
At press time, CoinMarketCap indicated that PEPE had experienced a 3.96% loss over the past 24 hours of trading. As a result, the meme coin’s price stood at $0.000001535. In addition to weakening against the Dollar, PEPE was also outperformed by the two market leaders Bitcoin (BTC) and Ethereum (ETH).
The meme coin had suffered a 2.48% loss against BTC, and was also 1.90% down against ETH. As a result, 1 PEPE was approximately worth 0.000000000051 BTC and 0.000000000817 ETH. PEPE was also trading closer to its 24-hour low of $0.000001506 than its daily high of $0.000001643.
Daily chart for PEPE/USDT (Source: TradingView)
Looking at PEPE’s daily chart, the meme coin continued to trade between the key support level at $0.0000013313 and the major resistance level at $0.0000019439. Furthermore, the crypto’s price had the support of the 9-day and 20-day EMA lines.
These two technical indicators suggested that PEPE was in a short-term bullish cycle as well. At press time, the 9-day EMA line was positioned above the longer EMA line. However, a drop below the 9-day EMA line and the aforementioned support at $0.0000013313 may result in PEPE’s price dropping to $0.0000007373.
On the other hand, a large wave of buy volume in the next 24-48 hours may result in PEPE’s price breaking above $0.0000019439. This will then clear a path for it to rise to $0.0000027978 in the following 48 hours.
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