- PEPE has rebounded from strong support, forming a potential double-bottom reversal pattern, indicating bullish momentum.
- RSI at 56.35 and MACD bullish crossover indicate growing buying pressure; a break above $0.00001000 could confirm an uptrend.
- Short-term targets include $0.00002384; failure to hold $0.00000850 may lead to consolidation or a pullback toward $0.00000700.
PEPE has broken its weekly downtrend, showing potential for an upward move. The price had followed a descending trendline after a previous rally, leading to a decline. However, recent activity suggests a possible reversal as the price stabilizes near a key support level.
Analysts indicate that increased buying volume could push PEPE toward higher resistance zones. If the price sustains above current levels, it may indicate the beginning of a bullish trend.
PEPE Rebounds from Strong Support Zone
According to analyst Rose, PEPE is bouncing off a historical support zone shown by strong demand.
The price pattern resembles a double-bottom reversal pattern, indicating potential bullish momentum. The current setup aligns with prior resistance zones, making it a key point for mid-term swing trades.
Short-term price targets include $0.00002384, $0.00002965, and $0.00003466. A continuation of the current trend could result in over a 300% increase if momentum holds. However, failure to maintain buying pressure may lead to consolidation or a return to lower levels.
Indicators Suggest Growing Bullish Momentum
The RSI is at 56.35, rising above the neutral 50 level, indicating increasing buying pressure. The moving average of RSI is at 48.31, further supporting bullish sentiment. If RSI crosses 70, it may indicate overbought levels, potentially slowing the upward movement.
The MACD indicator shows a bullish crossover, with the MACD line at 0.00000028 moving above the signal line at -0.00000031. This suggests growing momentum and a possible continuation of the uptrend. Monitoring resistance levels for potential price reactions is essential.
Resistance Levels and Potential Price Movements
At press time, PEPE was trading at $0.00000838, down by 1.64% for the day. The price has ranged between $0.00000829 and $0.00000870, with a trading volume of 8.55 trillion PEPE. Resistance near $0.00001000 is a critical level to watch.
If the price breaks above this point, it could test $0.00001200 next. However, failure to hold above $0.00000850 may lead to a pullback toward $0.00000700. Increased volume remains essential for any sustained movement.
