Attention everyone, because the movement in ($PEPE ) is not a coincidence. We are seeing a 42% increase in the last two weeks 📅, adding an additional 5% today 🤩. This momentum aligns perfectly with the capital rotation towards altcoins 🔄, in a context where macroeconomic and geopolitical sentiment is shifting towards optimism ✨. The dissipation of FUD (Fear, Uncertainty, and Doubt) 📉, combined with pro-crypto regulatory momentum 🏛️ (with the GENIUS Act already active and the CLARITY Act on the horizon for October), is unlocking previously marginalized institutional capital 💰, creating an ideal breeding ground for risky assets like memecoins 🚀.
The Coinglass altcoin season index has climbed from 20 to 53 so far this month 📊, signaling renewed retail interest in alternatives to Bitcoin. In this scenario, Pepe has captured significant attention 👀. Open Interest in Pepe has surpassed, for the first time, the billion-dollar mark 🤯. This milestone eclipses the peaks observed during post-election and post-inauguration rallies. However, the long/short ratio of 0.9646 in derivatives suggests a slight advantage for bears 🐻, indicating that some speculators may be pricing in a correction 📉.
Now, the big question: is a $PEPE to $1 viable? 🎯 From a technical perspective, the daily chart of PEPE/USDT shows a golden cross ✨✝️, where the 20 EMA and the 50 EMA have crossed above the 200 EMA. This, combined with the breakout of a symmetrical triangle formed since the mid-April low, projects a bullish target of 70% 📈, placing the price target at $0.00002425. However, the momentum has encountered key resistance at $0.00001460 🛑.
The Relative Strength Index (RSI) remains high at 72 📊, oscillating above the overbought threshold 🥵. Historically, this zone often precedes short-term corrections as buyer demand begins to wane 😴. Additionally, the MACD signal line is approaching the main MACD line 📉↔️📈, suggesting weakening bullish momentum and paving the way for a pullback. A short-term pullback is considered the healthiest way to reset volatility and build a stronger base for future rises 💪.
The immediate support is at $0.00001325 🛡️. Taking profits could lead the price to retest the upper limit of the symmetrical triangle pattern around $0.0000123, now acting as support. Although the $1 target for PEPE remains highly speculative and lacks a direct technical basis in the short or medium term, a consolidated altseason, driven by greater regulatory clarity, could add weight to this figure as an ambitious long-term target. 🌟
The key here is to observe whether Pepe will manage to consolidate his gains after this strong rise, or if, on the contrary, we will experience the correction that many anticipate before a next big movement. Are you ready to navigate this volatility? 🌊🧐$PEPE
