Date: Sat, Sept 14, 2024, 09:48 AM GMT
This week, the cryptocurrency market is buzzing with excitement as Bitcoin (BTC) surpassed the $60K mark, recording a 10.45% gain over the past seven days. This upward momentum has also spread to top memecoins, with Pepe (PEPE) being one of the big winners today.
Breakout on the Horizon
$PEPE surged by 6.16% today, bringing its price to $0.000007860. This rally has pushed the token closer to the downtrend line of a falling wedge pattern, a formation that often signals the potential for a breakout. If the bulls succeed in pushing PEPE past this key level, it could ignite a bullish rally that might see PEPE hitting resistance levels at $0.0000093 and $0.00001198—an impressive 50% increase from its current price.
Currently, PEPE’s Relative Strength Index (RSI) sits at 52.52, with an RSI-based moving average of 40.18, suggesting that the token is not overbought and still has room to climb.
What’s Ahead for PEPE?
Historically, Q4 has been a bullish period for the cryptocurrency market, and the same could hold true this year. With the market sentiment turning positive and PEPE approaching a critical resistance level, a breakout could lead to a sustained rally in the coming weeks.
All eyes are now on PEPE as traders anticipate the next big move. Could this be the start of a major uptrend for the popular memecoin? Time will tell, but the signs are pointing toward a potential breakout.
Get more updates at: coinsproe.com
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are subject to high volatility and risk.
#pepe⚡ #Memecoins
