$PEPE Gears Up for Another 100% Move as Breakout Pattern Resurfaces
Meme token $PEPE is showing signs of life again after weeks of sluggish price action, and technical indicators suggest a potential breakout may be on the horizon, echoing a similar setup that led to a 100%+ surge in October.
After enduring a tough couple of weeks marked by heavy resistance and downward pressure, $PEPE is now attempting a steady recovery. The tokens price structure is gradually improving, with a newly formed higher low pattern above a critical support zone, signaling a shift in sentiment among traders.
$PEPE has managed to hold above the psychologically important $0.00000700 level, maintaining relative stability despite thin trading volume. This consolidation phase has helped the meme coin establish a foundation for a potential upward move.
PEPEs Chart Hints at 100% Rally Repeat
According to World of Charts, PEPEs current market behavior closely mirrors its October performance, when a successful breakout triggered a rally of more than 100%. With a similar breakout pattern now forming, expectations for a comparable upside are rising.
However, technical indicators point to a bullish setup: the RSI at 44.91 shows bullish divergence with room to rise, while the MACD nears a bullish crossover, hinting at upcoming momentum.
Bollinger Band Width at 34.13% signals low volatility, often preceding breakouts, and the ADX at 34.3 confirms a moderately strong trend. The DMI shows a bullish bias with +DI at 20.8 above -DI at 10.2, and a 0.95x volume ratio suggests steady accumulation ahead of a potential move.
The key support level remains intact, acting as a safety net for bulls. If $PEPE can break through immediate resistance levels, especially amid low volatility, the setup could very well lead to a repeat of its previous explosive run.
As meme coin mania shows no signs of fading and traders continue hunting for high-upside plays, $PEPEs developing structure might offer another chapter in its unpredictable yet thrilling price journey.
Read More: Base Meme Coins Rise and Fall: Whales Make $666K Before the Crash
Read more: https://www.tronweekly.com/pepe-gears-up-for-another-100-move-as-breakout-pattern-resurfaces/
Text source: TronWeekly
