💥PEPE Price Analysis: Can Pepe Reclaim Record Highs As Buy Signal Emerges?
🚀 PEPE Price Boosted by SEC Chair's Hint
Over the weekend, Pepe coin received a price boost following hints from SEC Chair about potential approval for spot Ethereum ETF S-1s by summer's end. PEPE traded around $0.0000118 on Monday, marking a 1.4% increase in 24 hours. This revival may embolden PEPE bulls to rally toward previous all-time highs.
📈 PEPE Breaks Out of Ascending Triangle
PEPE's price broke out of an ascending triangle on May 21, reaching a new all-time high before profit-taking pulled it back to $0.00001057. Recently, it found support at a critical resistance-turned-support level, reinforced by a bullish falling wedge pattern. The current level aligns with the 0.786 Fibonacci retracement, typically a strong support.
🔍 Future Outlook for PEPE Price
Gary Gensler's remarks on Ethereum ETFs have spurred optimism among PEPE investors, aligning with historical trends where PEPE price movements mirrored Ethereum's. Santiment data indicates a rise in PEPE holders, with smaller investors potentially reshaping supply dynamics. As Ethereum-related optimism grows, PEPE could see sustained momentum, potentially crucial for its long-term price performance.
