Can PEPE Break Its ATH as Bullish Momentum Builds?

PEPE, a notable meme coin, has witnessed a significant surge of over 12% within the past 24 hours. Its trading volume has experienced an impressive increase of 36.16%.

Currently, PEPE is priced at $0.00002123, hovering close to its all-time high. The recent uptrend has likely been propelled by the overall positive sentiment in the crypto market, particularly Bitcoin's proximity to $100,000.

Technical analysis reveals a bullish signal for PEPE. The MACD line is poised above the signal line, indicating a potential bull run. Additionally, the Chaikin Money Flow indicator suggests a neutral money flow, while the daily trading volume has surged.

The daily RSI of 59.18 indicates a neutral market sentiment. However, the short-term moving average remains above the long-term moving average, indicating potential for further upside.

The four-hour price chart presents the possibility of an upside correction. If PEPE's momentum persists, it may test the resistance at $0.00002597. However, if the downtrend resumes, PEPE may revisit its previous support level of $0.00001648.

In summary, PEPE's technical analysis suggests a potential breakout rally if its momentum continues. However, investors should be mindful of the potential for a downside correction as well.