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The Pepe worth has pumped 21% within the final 24 hours to commerce at $0.00002589 as of 9 p.m. EST on a 127% soar in buying and selling quantity to $8 billion.
The surge took the PEPE worth to a brand new all-time excessive (ATH) and positioned the token among the many most trending cryptocurrencies on CoinGecko.
Pepe Worth Rebounds On A Sturdy Help Stage
The PEPE/USD worth motion on the every day timeframe highlights a bullish breakout adopted by a robust rally. In keeping with GeckoTermonal information, the worth was trapped in a descending bearish channel earlier within the yr with constant decrease highs and decrease lows.
This downward pattern ended close to the $0.000001154 stage, the place the worth discovered sturdy assist. This zone acted as a vital reversal space, with consumers stepping in and initiating an upward momentum. Following the breakout from the bearish channel in late September or early October, the worth surged, breaking previous key resistance ranges.
PEPE/USD is buying and selling at roughly $0.000002589, displaying a every day achieve of +3.61%. The breakout has additionally established a brand new assist stage round $0.000002000, which acted as a consolidation base earlier than the subsequent leg up.
PEPEUSD Evaluation Supply: Dextools.io
The 50-day shifting common (SMA) at $0.000001568 is pointing upwards, signaling sturdy short-term bullish momentum. The 200-day MA at $0.000001154 confirms a long-term uptrend as the worth trades properly above this stage.
Momentum indicators additional assist this bullish stance. The MACD is firmly in constructive territory, with the MACD line above the sign line and a rising histogram indicating sturdy shopping for strain.
In the meantime, the Relative Power Index (RSI) is at 72.35, within the overbought area of 70. This might set off a short-term pullback or consolidation for the Pepe worth earlier than the subsequent upward transfer.
The technical outlook for PEPE/USD stays bullish, however warning is suggested, given the overbought RSI. A retest of the $0.000002000 assist stage may present a greater entry level for additional beneficial properties.
The following main resistance is at $0.000003000, a psychological barrier. Key assist ranges are at $0.000002000, aligned with the consolidation zone, and $0.000001568, close to the 50-day SMA.
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