What $PEPE traders need to know before making the next move - AMBCrypto Analytics

PEPE was testing a key resistance level of $0.0000077 at press time. This comes after the meme coin rejected a key bullish pennant at $0.0000063 and acquired a massive surge of 20% to the recent trading price. The $0.0000077 level emerged as a barrier to the bullish momentum breaking out to test the higher resistance at $0.0000091.

This consolidation phase precedes a period of upward movements, raising market curiosity on whether the bull rally will continue or not. The stochastic RSI indicator for PEPE hinted at a bullish divergence. This suggests the ongoing consolidation might lead to an upward movement. However, a bearish run cannot be written off since the stochastic RSI was approaching an overbought zone. The bullish pennant pattern on the chart strengthens the chance of a breakout. However, the $0.0000077 resistance level still poses a major challenge for the bulls to beat.