- PEPE is approaching a potential breakout from a descending channel pattern formed since late May, a structure often linked to trend reversals.
- A confirmed 4-hour candle close above the channel resistance, especially with rising volume, could trigger a move toward the $0.00001300+ level.
- Traders are monitoring key resistance at $0.00001210, with bullish strategies ranging from early break-in entries to post-confirmation setups.
PEPE is showing breakout potential and experiencing a surge in its price with the overall market. PEPE has been forming a descending channel pattern since late May, which often predicts a strong trend reversal for both short and long term. The overall market is now turning from bearish to bullish, which is also impacting the altcoins, including PEPE. If a successful breakout occurs, then it will lead to the above $0.000013 area.
At the time of writing, PEPE is trading at $0.00001205 with a 24-hour trading volume of $933.1 million and a market capitalization of $5.07 billion. The PEPE price over the last 24 hours is up by 2.86%, and over the last week it is also up by 1.39% and showing high potential for the next major rally.
Source: CoinMarketCap
PEPE Signals Bullish Reversal Towards $0.000013
According to a prominent crypto analyst, after several weeks of downward drift, PEPE might be about to shift in momentum. Since late May, the popular memecoin has been oscillating within a descending channel structure often associated with market consolidation and indecisiveness. Currently, the price is hovering above $0.00001188 and is checking the upper boundary of the channel, which had previously acted as resistance during the downtrend on several occasions.
Traders watch closely for a confirmed breakout, preferably with a 4-hour candle close above the channel trendline and an increase in volume. Only this would provide the technical confirmation needed to indicate a short-term reversal of the trend, with upside targets placed around the $0.00001300+ level, which zone once acted as resistance in May’s price movement.
Source: X
Bullish traders appear to be developing two basic strategies. The more cautious approach waits for the breakout and 4H close, then enters, thereby avoiding the risk of a false breakout. However, aggressive traders may enter early if the price breaks above the recent swing high at $0.00001210, with stop-loss orders positioned below $0.00001150 to hedge against downside risk in case of a rejection.
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