PEPE flips $0.00001200 into support after breakout, now targeting $0.00001718 based on structure.
RSI at 69.71 and golden cross signal continued bullish momentum with room for further upside.
Whale holdings up 11.8% and exchange supply down 8T, indicating strong accumulation and less sell pressure.
PEPE has resumed its upward trend after a period of consolidation, showing renewed strength across technical indicators and trading activity. At the time of writing, PEPE was trading at $0.00001358, having gained over 4% on the day. The recent price action confirms bullish momentum supported by volume growth and structural breakouts.
Bullish Structure Confirmed With Key Breakouts and Higher Lows
PEPE has established a bullish reversal after bottoming near $0.00000900 in June, according to analysis prepared by BuryCrypto. The price formed a series of higher lows alongside strong green Heikin Ashi candles, reflecting an ongoing shift in momentum.
The breakout above $0.00001200 has now flipped that level into short-term support. The chart shows a clean structure, including a breakout from a descending wedge pattern. This setup aligns with previous bullish reversals, as seen in early 2024.
https://twitter.com/PepeCZBinance/status/1945705248921968793
PEPE is now targeting key resistance at $0.00001321, and if broken, a projected move toward $0.00001718 could follow. This projection is based on a measured move from the last impulse leg, which gained $0.00000397.
Technical Indicators and On-Chain Data Support Further Upside
The RSI (14) is currently at 69.71, just under the overbought threshold of 70, indicating strong buying pressure while leaving room for continued growth. Compared to early May, when RSI exceeded 80 before a pullback, the current rise appears more gradual and steady.
Volume has also increased during the move, reinforcing current price strength. According to on-chain data from Nansen, whale holdings have grown by 11.8% in the past month, rising from 8.18 trillion to 9.19 trillion PEPE coins. Meanwhile, exchange supply fell from 258 trillion to 250 trillion, indicating lower sell-side pressure.
A golden cross has also been formed on its daily chart as the 50-day EMA passes through above the 200-day EMA. Provided PEPE stays above the $0.00001200 mark, analysts anticipate further growth in the short-term and achieving levels between the 0.00001500-0.00001700 marks.
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