After Pepe set a significant market low at recent fluctuation points, it rebounded sharply by 30%. Despite the bullish momentum, the memecoin is currently approaching a major resistance level, which may lead to a temporary pullback before continuing to rise.
Pepe's recent rebound is impressive, having risen 30% from a clear swing low. However, the price is currently testing a key resistance level group, which includes the control point (POC), high time frame resistance level, and the previous 0.618 Fibonacci retracement level from the downtrend. This area holds technical significance and is typically associated with distribution or profit-taking zones.
Key technical points
30% rebound from swing low: PEPE has rebounded strongly from a key support level, marking a potential trend change.
Major resistance convergence ahead: The price is currently testing the POC, 0.618 Fibonacci, and high time frame resistance area.
A correction may be healthy: A rejection here would align with a normal bullish structure and may form a higher low.
From a technical perspective, the area PEPE is entering is currently a natural resistance zone, where buyers may start to slow down, and profit-taking phenomena may also appear. Factors reinforcing this resistance band include:
Control point, the point with the largest trading volume in history,
The macro 0.618 Fibonacci retracement level is a key reversal level in trending markets,
and the high time frame resistance level previously limited the bullish momentum.
Given the recent strong trend, a pullback will be viewed as a healthy trend, especially if it leads to the formation of a higher low near the previous major breakout level. This will reinforce the current bullish structure and lay the foundation for a sustainable rebound in the next round of rises.
However, if the bullish momentum is particularly strong, PEPE may still break through this resistance level. In this case, the bulls need to break through the high point of the value area, which will confirm a new swing high and decisively shift the short-term outlook to continue rising.
Before that, this area remains a key decision area, and the price must prove whether the bulls have complete control, or if a rotation down is needed before the next round of rises.
How will future price trends be?
PEPE is at an important crossroads. If the bulls fail to break through the POC-0.618 resistance area, the most likely outcome will be a pullback to the high time frame support level. This will facilitate a healthy retest and may create a higher low, thus maintaining the integrity of the uptrend. However, a breakout would signal accelerated rises and a continued march towards new highs.
After Pepe set a significant market low at recent fluctuation points, it rebounded sharply by 30%. Despite the bullish momentum, the memecoin is currently approaching a major resistance level, which may lead to a temporary pullback before continuing to rise.
Pepe's recent rebound is impressive, having risen 30% from a clear swing low. However, the price is currently testing a key resistance level group, which includes the control point (POC), high time frame resistance level, and the previous 0.618 Fibonacci retracement level from the downtrend. This area holds technical significance and is typically associated with distribution or profit-taking zones.
Key technical points
30% rebound from swing low: PEPE has rebounded strongly from a key support level, marking a potential trend change.
Major resistance convergence ahead: The price is currently testing the POC, 0.618 Fibonacci, and high time frame resistance area.
A correction may be healthy: A rejection here would align with a normal bullish structure and may form a higher low.
From a technical perspective, the area PEPE is entering is currently a natural resistance zone, where buyers may start to slow down, and profit-taking phenomena may also appear. Factors reinforcing this resistance band include:
Control point, the point with the largest trading volume in history,
The macro 0.618 Fibonacci retracement level is a key reversal level in trending markets,
and the high time frame resistance level previously limited the bullish momentum.
Given the recent strong trend, a pullback will be viewed as a healthy trend, especially if it leads to the formation of a higher low near the previous major breakout level. This will reinforce the current bullish structure and lay the foundation for a sustainable rebound in the next round of rises.
However, if the bullish momentum is particularly strong, PEPE may still break through this resistance level. In this case, the bulls need to break through the high point of the value area, which will confirm a new swing high and decisively shift the short-term outlook to continue rising.
Before that, this area remains a key decision area, and the price must prove whether the bulls have complete control, or if a rotation down is needed before the next round of rises.
How will future price trends be?
PEPE is at an important crossroads. If the bulls fail to break through the POC-0.618 resistance area, the most likely outcome will be a pullback to the high time frame support level. This will facilitate a healthy retest and may create a higher low, thus maintaining the integrity of the uptrend. However, a breakout would signal accelerated rises and a continued march towards new highs.
