PEPE Breaks a Prolonged Downtrend as Bullish Indicators Suggest Major Rally Ahead

• PEPE breaks above a key trendline, signaling potential bullish momentum backed by strong market interest.
• Fibonacci levels highlight PEPE’s next resistance and potential targets, with bullish sentiment fueled by past price rallies.
• RSI and MACD indicators point to continued upward movement, with support levels offering fallback in case of pullbacks.

According to MikybullCrypto, PEPE has broken above a longstanding downtrend. This breakout, coupled with a successful retest, has positioned the token for potential upward movement. At press time, PEPE was trading at $0.00001054, a 6.57% increase in the past 24 hours. Additionally, the price has climbed above a critical descending trendline, indicating a shift in market dynamics.

Key Fibonacci Levels Highlight Potential Targets

The 0.618 retracement level, positioned at $0.00001133, serves as a near-term resistance point. If the token surpasses this level, it could aim for the 1.272 extension at $0.00002265. Beyond that, the 1.618 extension, located at $0.00003268, could become a possible target for traders. PEPE has previously demonstrated price volatility, evidenced by a 187.30% rally from $0.00000113 to higher levels in the past.

Indicators Support Bullish Momentum

Volume reveals increased trading activity, suggesting growing market interest. Additionally, technical indicators like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) add to the bullish sentiment. 

The RSI, currently at 59.66, indicates rising buying pressure without yet entering overbought territory. Meanwhile, the MACD line has crossed above the signal line, further supporting potential upward momentum. If these trends persist, PEPE could test resistance at $0.00001100, followed by $0.00001200 in subsequent trading sessions.

Price and Support Levels to Watch

The token has established a strong support zone near $0.00000880, which has held firm during recent downturns. Should bullish momentum drop, this level could serve as a fallback for the market. Sustained volume and positive sentiment may drive the price to breach the critical $0.00001100 level.