PEPE's RSI crossing 70 has historically led to new highs; bullish indicators suggest more upside.
Technicals show strong momentum with MACD, ADX >70, and a confirmed rounding bottom breakout.
$600M open interest and $18.5M inflow highlight rising investor confidence and market activity.
Pepe Coin (PEPE) has surged again after a strong rebound from recent lows, drawing attention across the crypto market. According to an observation by HypurrScan, every time PEPE's 2-day RSI entered the overbought zone above 70, the token later reached a new all-time high.
Technical Indicators Support Further Growth
According to an analysis prepared by Crypto Patel via X, PEPE has climbed over 60% from the reported entry point. The current rally aligns with bullish signals on the 2-day chart, where the RSI has again crossed the 70 level. This technical signal has historically preceded fresh all-time highs for the meme-based token.
The token has also surpassed the 200-day Exponential Moving Average and key Fibonacci retracement levels. A rounding bottom breakout above $0.00001426 has been confirmed, pointing to further gains. The breakout could lead to a target of $0.00003864, based on the pattern depth.
https://twitter.com/ChandlerCharts/status/1921704286116823357
The Moving Average Convergence Divergence (MACD) indicator shows bullish momentum, while the Average Directional Index (ADX) remains above 70. According to IntoTheBlock, PEPE’s trend strength is supported by high trading volume and short-term accumulation by buyers.
Market Activity and Investor Sentiment Rise
Derivatives data from Coinglass shows that open interest in PEPE futures has approached $600 million. More than $1 million in short positions were liquidated within hours, suggesting forced exits from bearish bets.
On-chain data also shows strong buyer activity. According to Coinglass, PEPE absorbed an $18.55 million inflow into exchanges last week. Despite short-term traders booking profits, the upward trend has continued without major pullbacks.
PEPE is currently among the top five cryptocurrencies by trading volume, with a $6.02 billion market cap and 72% weekly gains. While volatility remains high, historical RSI patterns may indicate another all-time high is on the horizon.
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