Multiple clean touches along the trend line show that buyers are in control, defending support levels on key occasions. Repeated validation is a powerful technical indicator associated with long-term uptrends.
Bullishness persists during minor declines, indicating market optimism. PEPE could rise further if it maintains current rising support. This strong base often triggers the next major rally.
PEPE price rose strongly from an uptrend line, confirming it as a key support level. This bounce occurred directly above a strong horizontal support area, confirming that buyers are strongly defending the uptrend.
UniChartz noted that the MACD indicator is turning positive, indicating bullish momentum. A rising MACD crossover is typically preceded by larger positive highs, suggesting that PEPE may be ready for another push.
PEPE is approaching a key resistance test of the 100 EMA. A clear break above the 100 EMA could activate the next upper resistance area. PEPE could rise further if the momentum continues.
Where might PEPE go next?
PEPE's price action is setting up a rally as it respects important support levels, particularly its ascending trend line. The immediate target is to overcome the 100 EMA, a major hurdle in previous attempts. A break above this level could push PEPE towards the $0.00001152 area, a key price barrier that has been difficult to overcome historically.
If bulls can clear this initial hurdle, $0.00001313 and $0.00001731 are the next targets. PEPE faces significant challenges in these areas of price action and Fibonacci retracement.
PEPE is poised for a breakout due to mounting positive signs, including MACD and trendline support. A breakout of these resistance levels would signal a shift toward further gains and a continuation of the uptrend.