- PEPE consolidates near key resistance as trading volume and whale activity increase.
- Rising short positions raise the risk of a short squeeze and rapid price movement.
- Stoch RSI aligns with Bitcoin, signaling potential for a breakout if resistance is cleared.
The $PEPE chart and Stoch RSI currently reflect close alignment with Bitcoin’s latest bullish movement. As both assets move in sync, analysts note that a key resistance level for $PEPE is approaching. Once breached, and a zero is removed from its price, many believe it may no longer be seen as a bargain token.
PEPE Approaches Key Resistance with Momentum Building
According to analysis prepared by CW8900, PEPE is consolidating just below a critical resistance zone. The current price activity remains within a tight range, and the token has maintained support above $0.00000720.
This range-bound movement indicates strong accumulation as buying pressure holds steady. PEPE is showing increased trading volume and open interest, suggesting rising market interest. Whale activity has also intensified, with large transfers being moved off exchanges.
According to an observation by Lookonchain, one investor withdrew 1.5 trillion PEPE tokens, suggesting long-term confidence. Analysts believe this movement aligns with an accumulation phase, often seen before a price rally.
Short Squeeze Risk Grows While BTC Remains Bullish
Data shows that short positions on PEPE are growing, with increased leverage levels building across multiple exchanges. This condition increases the chances of a short squeeze, as rapid price moves may force traders to cover their positions.
Such moves often lead to sharp price spikes in a short time. Stoch RSI also mirrors Bitcoin’s recent momentum, and PEPE seems to be moving in correlation with BTC’s recovery. If this alignment continues and the major resistance level is cleared, the token may gain strong upside movement.
According to an analysis by JamesonXBT, the current structure shows potential for price acceleration once the resistance zone between $0.00000732 and $0.00000740 is surpassed.
