PEPE’s Rally Continues: Can PEPE/USDT Break Above $0.00001100?

Pepe (PEPE) is riding a wave of bullish momentum, currently trading at $0.00001053, up 0.10% and approaching key resistance levels. The 1-hour chart shows a steady inclination, with strong support from the moving averages, suggesting that PEPE could be ready for its next big move. Let’s dive into the technicals to assess what’s next.

Support and Resistance: Key Levels to Watch 🛠️

PEPE is well supported by the 9-period moving average (MA) at $0.00001034, which is closely followed by the 26-period MA at $0.00000971. These moving averages have acted as a springboard, preventing the price from falling and maintaining the bullish structure.

On the upside, the next significant resistance lies at $0.00001078, the high of the current trading session. If PEPE breaks above this level with conviction, it could approach the psychological level of $0.00001100, a key target for the bulls. Failure to break above 0.00001078 $ could lead to consolidation within the current range, with the support at 0.00000950 $ being crucial.

MACD and Momentum: Bullish Signs Persist

The MACD (Moving Average Convergence Divergence) continues to show bullish strength. The blue MACD line remains above the orange signal line and the histogram displays green bars, signaling continued buying pressure. This confirms that the bullish momentum is still in play and PEPE could have more room to run if the trend remains intact.

Volume and Market Sentiment: Strong Participation

Volume has picked up, with the SMA 9 Volume at 636.709 billion, reflecting increasing interest from traders. The recent spike in volume coincides with PEPE's upward move, which is a positive sign for gains, what do you think 😉😉