What PEPE Needs Turn Bullish
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The Pepe Coin price chart shows the asset is in a descending wedge pattern, generally considered a bullish reversal signal, especially if the price breaks above the wedgeâs resistance.
The price of Pepe coin is currently experiencing resistance at $0.00000836 near the 200 EMA. If it breaks above that, PEPE price may complete a double bottom reversal pattern that catapults it 68% to $0.00001200, which would also double as a breakout and potentially set up the price for further gains to $0.00001800.
The extremely overbought Stochastic RSI at 95.50 suggests that the price may face short-term selling pressure or a potential pullback before moving higher. This may explain why traders are shying away from the meme coin. However, during strong uptrends, overbought conditions can persist for extended periods.
If the PEPE fails to break and hold above the 200 EMA, it may drop further downward to $0.00000700 and potentially even lower below the falling wedge at $0.00000477. This would invalidate the current bullish thesis and render PEPE
PEPE Needs to Beat $0.00000835 to Turn Bullish
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