- PEPE’s price surged 5.02%, testing key resistance at $0.00000780.
- Bullish signals from BOS, CHoCH, and rising Open Interest indicate strong momentum.
- A breakout above $0.00000780 could push PEPE toward $0.00000850 in the mid-term.
Traders are paying close attention to Pepe Coin—PEPE, as bullish signs appear on the charts. The memecoin jumped 5.02% in 24 hours, while trading volume surged by 39.88%. These gains suggest increasing demand, with buyers pushing the price toward a key resistance level. A breakout could fuel further gains, but bears might still challenge the momentum. Price action and technical indicators now hint at what could happen next.
PEPE Shows Strong Bullish Signals
PEPE’s 4-hour chart confirms multiple Break of Structure (BOS) and Change of Character (CHoCH) patterns. These formations suggest a potential trend reversal, with strong support keeping the price stable. PEPE Bulls are now testing the $0.00000780 resistance zone, a crucial level for future gains.
BlockchainBaller, a well-known analyst on CoinMarketCap, believes a breakout above this barrier could lead to a sustained rally. The Relative Strength Index (RSI) sits at 50, showing room for more buying pressure. Short-term indicators like MACD (12,26) and moving averages signal bullish momentum. However, long-term moving averages lean bearish, suggesting some lingering uncertainty.
Traders Show Renewed Confidence in PEPE
Coinglass data reveals growing optimism among traders. Open Interest jumped 8.47% in 24 hours, signaling fresh positions entering the market. The OI-Weighted Funding Rate also turned positive, reinforcing confidence in higher prices.
The long-short ratio reached 1.41, proving that buyers currently hold control. However, market volatility remains a factor, with speculative moves creating uncertainty. If PEPE breaks past $0.00000780, the next target could be $0.00000850. A failure to break through might result in a short-term pullback.
PEPE continues to gain attention as bullish momentum builds. Buyers currently lead, but resistance levels remain a challenge. The next move could determine whether PEPE rallies or faces another test from the bears.
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