- PEPE’s price action forms a higher low, supporting an uptrend within an ascending channel, indicating bullish momentum.
- A breakout above $0.00000900 could trigger a surge to $0.0000256, with Fibonacci support and accumulation driving further gains.
- Increased trading volume and a rising A/D indicator suggest whale interest, boosting confidence in a sustained bullish rally.
PEPE has gained strong momentum as traders push over 33 trillion tokens in the futures market. The price action suggests a potential breakout, with bulls holding firm control. The token’s price has rebounded from key levels.
This has led to PEPE forming a higher low pattern that supports an uptrend. CryptoElites predicts a possible 40X growth, noting that there is a clear path for further gains. PEPE is trading within an ascending channel, supporting the bullish momentum as accumulation continues to rise.
Fibonacci Support and Trend Channel
PEPE has a strong support, bouncing twice off the 0.0% Fibonacci retracement level. The latest low aligns with previous key levels. The asset is within a parallel ascending channel, with each correction respecting the lower boundary.
This pattern indicates steady accumulation and suggests the potential for a continued uptrend. If PEPE maintains its position within the channel, bullish momentum could persist, supporting further price increases.
Breakout Projections and Key Resistance Levels
PEPE’s price action suggests a major upside target if the trend holds. CryptoElites predicts a 4,074% increase, projecting a possible surge to $0.0000256. A previous breakout from a similar setup led to a strong rally, supporting expectations of another major price movement.
For the rally to continue, PEPE must hold above $0.00000900, the immediate resistance level. If broken, the next key levels are between $0.00001500 and $0.00002000. A confirmed breakout could push PEPE toward the projected long-term target.
Technical Indicators Show Increased Buying Pressure
Technical indicators suggest growing bullish momentum. The upper Bollinger Band is at $0.00000851, while the lower is at $0.00000571.
The price nearing the upper band indicates increased volatility and potential resistance testing. The 20-day simple moving average at $0.00000711 has provided dynamic support, supporting the uptrend.
Trading volume has surged to 10.35 trillion PEPE tokens, indicating increased buying interest. An increase in volume confirms strong market activity, which is essential for sustaining an uptrend.
The Accumulation/Distribution (A/D) indicator is at 1,011.11 trillion, showing rising accumulation rather than distribution. This suggests potential interest from whales, further supporting bullish sentiment.
If PEPE sustains its upward momentum, breaking past resistance at $0.00000900, it may enter a stronger rally. However, failure to hold support at $0.00000711 could lead to a pullback toward $0.00000571, challenging the bullish outlook.
