The PEPE cryptocurrency has recently shown a remarkable pattern on the lower time frame chart, which could be a sign that the market is taking a breather after the bull run. The PEPE price is currently attracting a lot of attention.
The asset formed a symmetrical triangle, a classic technical pattern that indicates continuation or reversal depending on the direction of the breakout. In this case, the PEPE price consolidated above the point of control (PoC), which acted as important support throughout this formation.
This consolidation phase near PoC is a bullish signal indicating strong buyer interest at these levels. Coupled with increasing volume, this setup reflects growing momentum among traders.
As PEPE approaches the apex of the triangle, expectations for a significant breakout increase. A successful close above the triangle could put PEPE on the path to a potential 30% increase in value.
It is important for traders to watch for a confirmed breakout and retest of the upper boundary of the triangle, which would confirm the bullish scenario and potentially fuel a significant rally in PEPE’s market.
This technical setup has attracted attention, suggesting that PEPE could soon embark on a strong upward trajectory.
Pepe Price Golden Cross Signals Big Bull Run
Additionally, the frog-themed memecoin recently had a significant technical development: the golden cross.
This bullish signal comes as the 50-day moving average surges above the 200-day moving average, a widely recognized indicator of potential major upside momentum in the market.
Prior to this event, PEPE’s price had been showing steady growth. Completing a golden cross has historically been a precursor to a prolonged bull run.
The strong volume that accompanied this crossover further reinforced the strength of the trend, indicating strong buyer interest.
The market reacted immediately as PEPE price surged after the golden cross.
This price action has set PEPE up for further upside, as traders and investors closely watch continued moves above these key moving averages for confirmation of further upside potential.
This development marks a bullish period for PEPE, suggesting that the asset could be preparing for a prolonged rally.
Investors are now eyeing higher resistance as PEPE continues its bullish momentum in the crypto market.
Market capitalization increased
In the latest cryptocurrency rankings, PEPE has made an incredible move, surpassing both Litecoin and Polkadot in terms of market capitalization.
This move underscores PEPE’s growing influence and market acceptance. Over the past week, PEPE has not only surpassed the market capitalization of these major companies, but has also outperformed them in both 7-day and 24-hour trading volume.
The significant growth in volume and market capitalization shows strong investor confidence in PEPE.
The crypto community is increasingly interested, as evidenced by the significant price fluctuations and trading activity of this asset.
As PEPE now targets larger-cap coins like Chainlink and Bitcoin Cash, market watchers are closely watching the coin’s potential upside momentum.
The community is abuzz with speculation about the possibility of PEPE continuing this growth momentum and challenging more prominent cryptocurrencies in the rankings.
