UniChartz shared in a recent article on platform X: 'PEPE has shown strength after breaking through key resistance zones,' highlighting a decisive shift in the short-term momentum of this meme coin. This breakout reflects that as the price surpasses the main resistance that had previously constrained upward movement, new buying pressure is emerging.
PEPE has firmly established itself in a strong confluence zone.
The analyst further pointed out that PEPE is currently 'in the process of retesting breakout levels' and stated that 'if this area holds, it will be a typical bullish confirmation.' This retesting phase is crucial; if the bulls can successfully hold the newly formed support area, it may open the door for the next round of upward movement. Overall, the price action indicates that bullish momentum is increasing, and the current consolidation phase may serve as a springboard for the next upward move.
According to UniChartz data, PEPE's price action continues to follow a well-established upward trendline, which has served as reliable dynamic support over the past few months. This trendline has been tested multiple times, each time triggering a bullish response, strongly indicating that buyers are entering during these retests. Additionally, this diagonal support is closely tied to key horizontal demand zones, forming a critical confluence point that reinforces the overall bullish structure.
As long as PEPE remains above these crossover support levels, the market structure still leans towards the bulls. The consolidation of prices in this area suggests that the market may be entering an accumulation phase, with market participants preparing for the next move.
If PEPE rebounds strongly from this confluence area, it may signal the start of a new round of upward movement, potentially attracting new buying interest and strengthening positive sentiment. This move would validate the importance of the trendline and confirm PEPE's ability to maintain its mid-term upward trend amidst broader market uncertainty.
Volume supports the bullish trend.
According to Whales_Crypto_Trading, PEPE has broken out of a downward channel with astonishing trading volume, indicating a potential shift in momentum for this meme coin. The breakout of PEPE has benefited from a significant increase in trading activity, suggesting strong interest from market participants, which may attract larger-scale participants.
The analyst emphasized that if the retest of the current breakout area can hold its ground, it may serve as a springboard for further gains in the coming weeks. This technical retest, supported by volume, can usually validate trend reversals and strengthen bullish sentiment.
