#Pepe coin's recent price action has shown a steady upward trajectory on the 4-hour chart, with a gradually increasing closing price from $0.00000790 to $0.00000900. The short-term EMA 9 is trending below the EMA 20. This shows a short-term downtrend. However, the gap between these two moving averages is narrowing, suggesting a potential bullish crossover in the near future.
The relative strength index (RSI) has risen from the deeply oversold level of 16.67 to 35.07, indicating a clear change in momentum. This increase in the RSI suggests that PEPE may be experiencing a reversal from recent lows, with buying pressure starting to outweigh selling pressure.
The MACD indicator, although still in the negative zone, shows that the downward momentum is fading. Meanwhile, the MACD histogram is shrinking, showing that the downtrend is losing strength. If this trend continues, we could see a bullish crossover in the MACD, further supporting the potential uptrend.
$PEPE faces immediate resistance at $0.00000889, a level that coincides with recent price peaks. A successful break above this level could pave the way for the price to target higher resistance levels at $0.00001079 and ultimately at $0.00001144, which would signal a strong uptrend.
On the other hand, the first line of defense for the bulls is at $0.00000855, providing immediate support in case of a pullback. Below this, the key support levels are $0.00000838 and $0.00000832. A break below these support levels could indicate further downside potential, making these levels important for maintaining the current bullish momentum.