PEPE/USDT Price Analysis
With the $BTC price restarting a new negative cycle within a channel, the meme coins are taking a minor pause. However, the broader market anticipates a bull run ahead with an altcoin season fueling the meme coins mania.
With a bullish breakout of a falling wedge pattern, the PEPE token is ready for a trend reversal. The growing bullish influence leads the 50-day and 100-day EMA for a bullish crossover.
Further, the meme coin surged by 73% in the past 23 days, reclaiming the psychological mark of $0.000010. The uptrend is facing opposition at $0.000012.
With a potential evening star, the meme coin hints at a potential retest before a bullish continuation. Based on the previous bull run, recorded in March 2024, of more than 700%, the meme coin shows potential to surpass the $0.000060 mark.
However, in the short term, the price action reveals crucial resistances at $0.000012 and $0.000016.
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