$PEPE has risen by 18%, becoming one of the best altcoins of the day, and at the time of writing, it is trading at $0.00001280. Being slightly below the resistance of $0.00001312, PEPE is demonstrating strong momentum. This indicates growing investor interest and the potential for further growth.

In mid-June, PEPE switched from a bullish trend to a bearish one after the appearance of a 'death cross'. Since then, it has been trying to reverse this trend. If market conditions improve, PEPE will have a chance to overcome the resistance at $0.00001389, which could lead to a recovery and a resumption of the altcoin's growth.

If PEPE faces selling pressure from short-term holders, it may be at risk of retracing to support levels of $0.00001216 or $0.00001059. A drop below these levels would invalidate the bullish forecast and could mark the beginning of a new bearish trend.$BTC $PNUT