PEPE Approaches Key Trend Level: Is a Breakout on the Horizon?

Date: Fri, 29 Nov 2024, 11:28 GMT

The cryptocurrency market is seeing significant activity today, with many memecoins and altcoins trending higher as Bitcoin’s dominance continues to decline. BTC’s dominance has dropped to 58.21% from a recent high of 62.53%. Amid this shift, popular memecoin PEPE is gaining attention as it approaches a critical breakout point, with its price up over 2% today.

Source: Coinmarketcap

Key Break Ahead

Following its high-profile listings on Robinhood and Coinbase, $PEPE entered a correction period where it reached a low of $0.000017 from the high of $0.0000255, forming a descending triangle pattern. At the time of writing, PEPE is trading directly at its descending resistance trendline of $0.00002019.

A confirmed break above $0.00002051 could signal a significant upward rally, with resistance levels at $0.00002339, $0.00002414, and $0.00002596. These levels mark potential gains of up to 28% from the current price.

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