- PEPE’s breakout above $0.00000800 confirms bullish structure and strong market momentum
- Technical indicators like MACD and RSI support a sustained short-term uptrend for PEPE
- Rising liquidations signal volatility risk as PEPE nears psychological $0.000020 level
The popular meme coin PEPE is showing strong bullish momentum after a decisive breakout, sparking optimism among traders. Following weeks of sideways movement, the cryptocurrency has surged past a significant resistance zone. This key breakout signals a shift in sentiment, hinting at a possible continuation of the rally.
As of press time, PEPE trades at $0.00001398, showing a 12.31% weekly gain despite a 10.34% dip over the past 24 hours. With bullish technical indicators and increased trading volume, investors are closely watching for a push toward the psychological $0.000020 target.
Momentum Fueled by Breakout and Technical Patterns
According to analytics firm Bitcoinsensus, PEPE confirmed a daily structure break above the $0.00000800 resistance zone. This breakout ended a long period of consolidation and triggered high-volume buying. Significantly, the move formed a bullish pennant often a strong continuation signal in technical analysis.
Moreover, the breakout from this pattern solidifies current bullish momentum. The trend points toward the next short-term resistance at $0.000020, a critical psychological level. If PEPE reaches or breaks this zone, it could serve as a key take-profit area for traders. Consequently, this could also drive further FOMO among retail buyers.
Indicators Support Continued Uptrend
Technical indicators further confirm PEPE’s bullish case. The MACD chart displays a bullish crossover, with the MACD line currently above the signal line. A positive histogram reinforces growing buyer interest. Meanwhile, the RSI stands at 60.74, signaling bullish momentum without yet entering overbought territory.
However, caution remains warranted. Should the RSI climb above 70, a short-term correction could follow. Still, current momentum appears strong enough to sustain upward pressure in the near term.
Liquidations Highlight Market Volatility
Liquidation data from Coinglass reveals sharp sentiment shifts. A significant short liquidation wave in early May aligned with a rapid price surge.
Historical peaks, like the $19M liquidation in December, suggest that sudden moves in PEPE can lead to extreme volatility. Hence, traders should stay alert to rapid reversals, especially near psychological resistance zones.
