PEPE Coin (PEPE) on the Verge of Breakout: Bullish Momentum Gains Traction in Crypto Market

  • PEPE, a popular meme coin, is showing signs of a potential breakout, following a bullish pattern on its chart.
  • The coin’s price has increased by over 3% in the past week, and it may face resistance at $0.0000092 before retesting its all-time high (ATH).
  • Several metrics suggest a successful breakout, but some indicators hint at a possible restriction.

PEPE, a meme coin, is on the verge of a breakout, following a bullish pattern. The coin’s price has seen a 3% increase in the past week, and it may face resistance before retesting its ATH.

PEPE’s Bullish Trajectory

PEPE is fast approaching its ATH, with a bullish pattern forming on its chart. The meme coin’s price has increased by over 3% in the past week, and it is currently trading at $0.000008732 with a market capitalization of over $3.67 billion. The coin’s price has started to consolidate inside the bull pattern since the 1st of April, and it is on the verge of breaking out of the pattern.

Indicators Pointing Towards a Breakout

Several metrics suggest a successful breakout for PEPE. The coin’s price remains above its 20-day Exponential Moving Average (EMA), and the Relative Strength Index (RSI) also shows an uptick, hinting at a continued price increase. However, some indicators suggest otherwise. The Chaikin Money Flow (CMF) shows a sharp decline, and the Money Flow Index (MFI) also went down slightly, which might restrict PEPE from breaking above the pattern.

Metrics Analysis

Analysis of Santiment’s data shows that PEPE’s MVRV ratio remained positive last week, with a value of nearly 15%. However, the meme coin’s open interest dropped. Additionally, sentiment around PEPE started to turn bearish, as evident from the decline in its Weighted Sentiment.

Potential Roadblocks Ahead

Analysis of Hyblock Capital’s data reveals potential roadblocks for PEPE ahead of its ATH. PEPE’s liquidation would rise sharply near $0.0000092. A rise in liquidation often results in a price correction, making it crucial for the meme coin to go above that level in order to test its ATH and possibly go above it.

Conclusion

In conclusion, PEPE is showing signs of a potential breakout, with a bullish pattern on its chart. However, it may face resistance at $0.0000092 before retesting its ATH. While several metrics suggest a successful breakout, some indicators hint at a possible restriction. Investors should keep a close eye on these developments.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Binance Futures Updates Leverage and Margin for XEMUSDT and Other Perpetual Contracts

Binance Futures has implemented significant adjustments to the leverage...

Former Northern Ireland Secretary John Baker Joins Axiom as Advisor to Bitcoin Investment Firm

On November 28th, COINOTAG News reported that Cointelegraph disclosed...

BTC Options Expiration: $9.4 Billion at Stake with a Put/Call Ratio of 0.83

As reported by COINOTAG on November 28th, significant movements...

Top Trader Reflects on BTC’s Surging Impact: Lessons from November’s Market Challenges

On November 28th, renowned trader Eugene shared insightful observations...

Celebrating 12 Years of Bitcoin Halving: A Look Back at Bitcoin’s Journey Since $0.0008

As of November 28th, COINOTAG News highlights the significant...

Is the US Stock Markets Open on Thanksgiving and Black Friday?

Find out how Thanksgiving and Black Friday impact U.S. markets, retail performance, and consumer spending trends during the holiday season.

India’s Crypto Ecosystem Shows Resilience Amid Taxes, Suggesting Potential for Greater Adoption

India's cryptocurrency landscape exhibits notable resilience amidst...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img