TradeCityPro | PEPE: Testing Resistance for a Potential Breakout
2024-12-07

👋 Welcome to TradeCityPro! 
In this analysis, I’ll review PEPE, one of the most popular meme coins in the crypto space. This analysis focuses on the daily timeframe.

 📅 Daily Timeframe: Consolidation and Breakout Potential 
On the daily chart, the price has been consolidating within a long-standing range between 0.00000658 and 0.00001668. After breaking through the 0.00001292 resistance, significant volume and momentum entered the market, leading to a breakout above 0.00001668.

🧩 Currently, the price has formed a peak at 0.00002386, which it is now testing for the second time. A successful breakout above this level could spark a new bullish move.

✅ Based on monthly pivot points, the next targets for this upward movement would be 0.00002821 and 0.00003622. If the bullish momentum continues, the subsequent targets would be 0.00004647 and 0.00005448.

📈 If RSI stabilizes above the 70 level and buying volume resurges, the likelihood of breaking 0.00002386 increases.

 📉 Support Levels in Case of a Pullback 
🔽 The first key support is at 0.00001668, which has already been tested once during a correction.

🔴 If the price continues to decline, the next support level would be 0.00001292.

 📝 Final Thoughts

This analysis reflects our opinions and is not financial advice. 

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