PEPE Price Rose Over 20% Intraday Amid ETH ETF Buzz: What’s Next

PEPE Surges Over 20% Amidst Ethereum ETF Anticipation

Pepe (PEPE), the memecoin on the Ethereum network, soared over 20% intraday, buoyed by anticipation surrounding the potential approval of a spot ETH ETF.

Bullish Momentum

PEPE's price has crossed $0.00001080 and exhibited a bullish breakout with increased volume. Investors' interest has propelled the memecoin above its key moving averages, with targets set at $0.00001300.

Technical Indicators

Bullish indicators suggest upward momentum. PEPE's price closed above $0.00001230, confirming an uptrend. However, a rejection below $0.00001200 could lead to a correction towards $0.00001080.

Market Sentiment

Analysts remain neutral but predict continued bullish movements for PEPE. The sentiment curve has shifted positive, with RSI indicating overbought conditions that support further upward movement.

Open Interest

A sharp increase in future open interest data indicates significant long additions.

Key Support and Resistance Levels

Immediate support levels stand at $0.00001180 and $0.00001070. Upside hurdles lie around $0.00001260 and $0.00001330.

Conclusion

With positive technical indicators, investor optimism, and increasing open interest, PEPE is poised for further growth. A sustained close above $0.00001280 could fuel a bullish continuation.