$ETH The PEPE stock shows strength with strong stability above the main support area
The PEPE stock showcases its technical strength after successfully converting the main 50-day exponential moving average into a support level, a move that has caught the attention of bullish traders. After a strong close above this critical level, the meme coin now shows signs of sustained momentum, indicating that the bulls may be preparing for the next upward move.
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The price movement reflects renewed confidence in PEPE's short-term structure, as buyers defend the breakout and prepare for further gains. With the broader market stabilizing, PEPE's resilience could mark the beginning of a new rally.
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The potential for PEPE to break out grows as the structure remains intact
In a recent update shared on X, UniChartz highlighted that PEPE has successfully closed above the 50-day exponential moving average, following a critical reclaim of a key resistance area that previously served as strong support. This move is a notable technical development, indicating increasing bullish momentum and hinting at a potential trend reversal.
