PEPE Looks Bullish: Can the Bull Army Unlock a Breakout Ahead?

1. PEPE token price surpassed the key moving averages and looks bullish.
2. Buyers have gained momentum and are eyeing to cross $0.00000800.

The PEPE token price has breached the downward-sloping trendline hurdle, delivering follow-on buying momentum in the last trading sessions. The token delivered the lower low swings for the past sessions, but the trend changed. Buyers are accumulating, and the token has made fresh higher highs above the 20-day EMA mark.

At press time, the PEPE token (PEPE) price traded at $0.000006923 with an intraday drop of 9.20%, reflecting neutrality on the charts. It has a monthly return ratio of 11.90% and 68.28% yearly. The pair of PEPE/BTC is at 0.000000000110 BTC, and the market cap is $2.91 Billion. Analysts are neutral and suggest that the PEPE crypto may stretch the buying momentum and outperform above the $0.00000800 mark.

PEPE Price Volume Profile Analysis On Daily Chart

The price-to-volume profile on the daily chart of the PEPE token showcases a trend reversal, and the token has escaped the trendline hurdle. Moreover, the token has climbed above the key moving averages and is ready to skyrocket gains in the coming sessions. The intraday trading volume dropped over 26.29% to $731.43 Million.

Price Volatility and Weighted Sentiment Outlook

This week, followed by the sharp buying and selling momentum, the price volatility curve noted fluctuations and dropped over 11.20% to 0.021. However, the weighted sentiment looks positive and stayed above the midline around 0.503.

Social Dominance and X Followers Insights

Per the Santiment data, the social dominance data witnessed a minimal decline of over 5.19% to 0.309%, replicating a dip in investor interest in the media discussion reports. Conversely, the X followers data noted a sharp bounce of over 62.30% and jumped to the positive territory around 90.

The price action reflects short-covering data, and sellers look trapped this week. Until the upside mark of $0.00000750 was not breached, sellers remained in their short positions and will try to hold their grip. If bulls overtake the mark, sharp buying momentum may be seen.

Per the Fib levels, the PEPE token price trades above the 38.2% zone and reflects a bullish stance. Similarly, the RSI curve stayed above the midline region, and a positive crossover was noted on the charts.

The total supply of the PEPE crypto is 420.69 trillion, whereas the volume-to-market cap ratio is 0.250, ranked 37 in the global crypto market cap.

Summary

The PEPE token price replicated an up move and has retained the bullish trajectory, highlighting the bull accumulation. Despite the bearish market sentiments, the token has held the gains and is willing to spread the bullish leg in the upcoming sessions.

Technical Levels

Support Levels: $0.000006300 and $0.000006000
Resistance Levels: $0.000007200 and $0.00000900

Disclaimer

The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.