PEPE Shows Strength as Prices Maintain a Major Breakout, Eyes Further Gains

News

  • PEPE broke out from a Bull Flag with increased volume, indicating strong market interest and buying pressure.
  • The first price target for PEPE is $0.0000375, representing a potential 65% upside from current levels.
  • Rising volume supports bullish momentum, with a high-end projection for PEPE reaching above $0.000063.

The cryptocurrency PEPE is displaying renewed strength, with its price maintaining a major breakout at current levels. The sustained breakout is drawing attention to the asset’s potential for further upward movement, positioning it as a focus for traders. With key technical levels holding firm, the projected upside indicates a significant increase from its current price range.

PEPE Breaks Out of Bull Flag with Rising Volume

The asset PEPE recently experienced a price breakout accompanied by notable buying volume. The formation of a Bull Flag pattern had signaled a potential for continued upward momentum, with the current volume levels also indicating a breakout, with expectations of further surges. 

Source: Javon Marks(X)

The price consolidated within a descending channel, forming a Bull Flag structure. This phase shows a temporary slowdown in upward momentum while maintaining overall bullish market conditions. A breakout from the Bull Flag pattern is visible, with PEPE moving above the resistance trendline. This breakout coincided with a spike in trading volume, indicating renewed buying pressure and market interest in the asset. 

Current Breakout Holding and Price Action

According to a chart by Javon Marks, PEPE’s strong upward momentum follows a breakout from a descending wedge pattern. The price surged in late November, entering a consolidation phase with lower volume, and later broke out with increased buying interest. The breakout established new support levels and suggests potential for further gains.

Source: Javon Marks(X)

The current breakout in PEPE has established a solid technical foundation, suggesting the potential for further price gains. The measured movement derived from the breakout places the first target at $0.0000375, representing a potential 65% increase from current price levels. The high-end projection points to a level above $0.000063, offering a promising upside scenario if momentum continues to build.

The post PEPE Shows Strength as Prices Maintain a Major Breakout, Eyes Further Gains appeared first on Crypto News Land.

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