In light of the bullish momentum in the cryptocurrency market, with expectations for Bitcoin to reach record levels that may exceed $200,000, PEPE stands out as one of the main beneficiaries of this trend.
🔍 Technical analysis of the PEPE/USDT pair on Binance:
Overall trend: PEPE shows a strong bullish pattern, consistently recording higher highs and higher lows.
Moving Averages: The price is moving above the 50 and 200-day moving averages, indicating the strength of the bullish trend.
Relative Strength Index (RSI): It is near the overbought area (>70), which may indicate the possibility of a short-term price correction.
Support and resistance levels:
Support: $0.00000750, then $0.00000700.
Resistance: $0.00001000, then $0.00001200.
📈 Price forecasts for May 2025:
According to CoinCodex analyses, the price of PEPE is expected to reach $0.000012 by May 2, 2025, with a potential growth of 30% during the month.
🌟 Supporting factors for PEPE's rise:
Community growth: PEPE has seen a noticeable increase in the number of followers across social media platforms, reflecting growing interest from investors.
Upcoming events: The "Halving" of PEPE is expected to occur in the coming days, which will reduce supply and increase the rarity of the currency, a factor that could drive the price up.
Overall market momentum: With positive expectations for Bitcoin and other cryptocurrencies, PEPE is benefiting from this momentum to achieve additional gains.
