#BULLISH : $PEPE will go higher then Expected⁉️

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1️⃣ PEPE's Momentum and Technical Indicators

PEPE's current momentum remains low, but there are encouraging signs of a potential technical recovery. Notably, PEPE has experienced a bullish breakout above the 9,500 level on the 12-hour time frame. However, PEPE is currently trapped between a strong resistance level at 10,000 and a support level at 9,000, awaiting a decisive break from this range.

2️⃣ Bitcoin's Influence

Bitcoin's price movements are highly correlated with most cryptocurrencies, including PEPE. For PEPE to enter a bullish phase, Bitcoin needs to break above its main resistance level at 58,400. This breakout would likely provide the necessary market sentiment and momentum for PEPE to follow suit.

3️⃣ Short Positions and Liquidity

In the past few hours, there has been a notable increase in short positions, indicating that some traders are betting on a price decline. However, there is a significant amount of liquidity to the upside. This abundance of liquidity could fuel a potential rally if market conditions shift favorably, leading to a short squeeze and pushing prices higher.

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