PEPE rebounded strongly, increasing by 26% in 24 hours

PEPE, a meme concept coin favored by investors, has seen a strong price rebound recently. In the past 24 hours, the price of PEPE has surged by more than 26% and is currently trading at $0.00001231. Not only that, PEPE’s rise in the past week was equally impressive, exceeding 29%.

Technical analysis is sending positive signals, suggesting that PEPE prices may rise further. Judging from the 4-hour price chart, PEPE price has successfully broken through the previous important pressure level of $0.00001093 and is trying to overcome the next resistance level of $0.00001421. If PEPE price can close above this resistance level in the next 24 hours, it will technically provide support for continued gains in the short term.

However, investors also need to be aware of potential risks. The PEPE price could turn negative if it falls below the recently broken $0.00001093 level. In the worst-case scenario, PEPE price could drop to $0.00000567.

Combined with technical indicators, PEPE currently shows strong bullish signals. For example, the Moving Average Convergence Indicator (MACD) and the Relative Strength Index (RSI) both give off positive signals.

A MACD indicator line crossing the MACD signal line is usually seen as a signal that prices may rise in the short term. After PEPE price broke above $0.00001093, the MACD indicator also showed an upward crossing signal, indicating that its bullish momentum may further strengthen, thus pushing the price to continue rising.

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