The Ascending Trend of PEPE Remains Stable
Multiple clean touches along the trend line demonstrate that buyers are in control, defending support levels at key times. The repeated validation is a strong technical indication associated with long-term bullish trends.
The bulls continue strongly during slight corrections, indicating optimism in the market. PEPE could increase further if it maintains the current rising support. This solid base often launches the next big increase.
The price of PEPE rebounded strongly from its ascending trend line, reaffirming it as a key support level. This rebound occurred just above a strong horizontal support zone, confirming that buyers are vigorously defending the rise.
UniChartz noted that the MACD indicator is turning positive, indicating bullish momentum. The strengthening MACD crossover generally precedes larger positive increases, suggesting that PEPE may be ready for another push.
PEPE is approaching a key resistance test of the 100 EMA. A clear breakout above the 100 EMA could trigger the next upper resistance region. PEPE could rise further if the momentum persists.
Where PEPE Could Rally Next
The price action of PEPE is setting up for a rally as it respects important support levels, particularly its ascending trend line. The immediate target is to surpass the 100 EMA, a key obstacle in previous attempts. A breakout above this level could take PEPE towards the $0.00001152 zone, a key price barrier that has historically been difficult to surpass.
If the bulls overcome this initial barrier, the next targets are $0.00001313 and $0.00001731. PEPE faces significant challenges in these price action zones and Fibonacci retracements.
PEPE is poised for a breakout due to increasing positive signals, including the MACD and trend line support.
