The U.S. President's renewed promotion of this currency may provide the necessary momentum to exit the channel that represents the cup and handle pattern that has been ongoing for 5 months.

The daily price chart for the PEPE/USDT pair illustrates the formation of the cup and handle pattern. Source: TradingView, Binance. Initial investor reactions to Trump's post led to a rise in the price of PEPE towards the next resistance level, but this increase was not strong enough to successfully break through this level.

Currently, momentum indicators are leaning towards the bears (short sellers), with the MACD declining further below the signal line after recently crossing downward with it, indicating the possibility of a continued bearish trend in the short term. Meanwhile, the Relative Strength Index (RSI) appears to be heading towards falling below the neutral line at the 52 level, taking a downward path; if this trend continues, it is likely that sellers will dominate the market and outperform buyers.

Potential social catalysts may sustain this pattern, with a price rebound likely at the Fibonacci retracement level of 0.618 at $0.00001, which is usually considered a potential reversal point during minor corrections.