PEPEUSDT: Breakout of range, turns bullish, but uptrend yet to be confirmed

After the range formed earlier this month was broken, $PEPE showed bullish momentum on the daily chart, although the uptrend has not yet fully resumed. Based on the liquidation chart, Pepe's price prediction shows that the profit-taking level needs to turn into support.

Market Review

As of July 15, $$PEPE had been trading slightly above the mid-range level of $0.0000088 before $BTC broke through the key resistance level of $61,000. As $BTC rose from $61,000 to $64,000, $P$PEPE head confidence increased.

The surge in volume on July 15 has begun to shift the market momentum. The Momentum Oscillator is above zero, indicating strong bullish momentum. However, OBV (On Balance Volume) has not yet broken through the June high.

Key Price Analysis

Resistance: $0.0000132 to $0.000014, the location of the recent lower highs on the daily chart in June. Expect prices to rise to these levels.

Support: Liquidation heatmap shows that deep losses in early July swept through large liquidity pools at $0.000008. Bulls were able to defend this level, but there is some untested liquidity below $0.000008.

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