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PEPE Price Eyes a Rally After Holding Strong Above Key Support Levels

Munene Timothy by Munene Timothy
May 21, 2025
in Binance Feed, Market, News, Price Analysis
Reading Time: 3 mins read
PEPE Price Eyes a Rally After Holding Strong Above Key Support Levels
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  • PEPE forms an ascending triangle with strong support at $0.000013000, suggesting bullish continuation if volume strengthens.
  • Price holds above all major EMAs, confirming an upward trend, while MACD shows neutral momentum awaiting breakout confirmation.
  • RSI dipped from overbought to 65.24, indicating consolidation before a potential breakout above the $0.000015000 resistance.

Pepe (PEPE) is trading near a major resistance zone at $0.000015000. The memecoin has gained by 4.01% in the past 24 hours, now trading at $0.00001349. Another bullish formation may fuel another rally as per analysts. 

Lark Davis noted a breakout from a large triangle pattern, which he describes as a potential uptrend continuation. The setup includes rising lows against a horizontal resistance, suggesting growing pressure for a breakout move. However, he cautioned that Bitcoin’s movement could still influence the outcome in the short term.

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Ascending Triangle Pattern Formation

The latest formation shows an ascending triangle, created by higher lows and a flat top near the $0.000015000–$0.000015800 zone. This outlook often appears during bullish trends and may indicate continuation if volume strengthens. 

PEPE 1- day price chart, Source: Lark Davis

The key support is at $0.000013000, aligning with the lower trendline of the triangle. Pepe has already broken past previous consolidation ranges, especially the earlier top at $0.000010000, confirming momentum has shifted upward. 

Indicators Show Strong Uptrend but Caution Persists

Indicators show a firm bullish bottom, with all key exponential moving averages (EMAs) trending upward. The EMA 20 is at $0.000012048, while the EMA 50 and EMA 200 are at $0.000010333 and $0.000010783, respectively. 

Current price action is above all these levels. This positions the asset with strong support underneath. The MACD line has crossed above the signal line with positive values. 

PEPE/USDT 1- day price chart, Source: TradingView

The RSI, however, has entered overbought levels. Sitting at 73.29, the index suggests a risk of near term cooling if volume fails to rise further.

Price Consolidation Adds Pressure at Resistance Level

According to Bitcoinsensus, Pepe’s outlook resembles its February 2023 setup, just before a major move. The token has stayed above $0.000010000 since early May and recently consolidated below $0.000015000. 

February 2023 vs May 2025. $PEPE$PEPE coin has been crafting the exact same market structure pattern similar to February of 2023.
You know what happened next.

The $50B journey is still in play💹🧲 pic.twitter.com/VJjglqPs6D

— Bitcoinsensus (@Bitcoinsensus) May 20, 2025

RSI levels have cooled to 65.24, with past peaks reaching above 80. This shift suggests a possible upward move, but also points to a brief pause. The MACD shows a flat histogram with the line and signal level equal at 0.00000129, suggesting neutral momentum for now. A move above $0.000015000 may lead to a new rally.

Tags: Pepe (PEPE) NewsPrice Analysis

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