$PEPE set for 17% surge: Should traders go long? - AMBCrypto Analytics

PEPE, the third-largest memecoin by market cap, is signaling a potential upside rally. Despite the uncertainty surrounding the overall cryptocurrency market, where assets like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) show notable growth while others remain stagnant, PEPE is attracting growing interest from crypto investors and whales.

Technical analysis reveals a bullish price action on the daily chart, with a key pattern forming on the four-hour timeframe—a descending triangle. Should PEPE break above the $0.0000243 level and close a four-hour candle there, it could see a 17% surge, possibly reaching $0.000028. Notably, PEPE's Relative Strength Index (RSI) remains below the overbought zone, suggesting further room for growth.

With its price currently at $0.0000235, PEPE has already surged by over 1.5% in the last 24 hours, accompanied by a 15% increase in trading volume—indicating heightened investor participation. On-chain metrics and price action strongly suggest that PEPE is primed for an upside breakout, with traders and long-term holders leading the charge.