- Potential Bullish Reversal: Following a major drop, PEPE is showing signs of a possible turnaround as a rounded bottom pattern forms, often considered a bullish indicator. If the resistance level is breached and successfully retested, PEPE could see a surge in momentum.
- Bullish Targets and Key Levels: Should a breakout occur, PEPE could first target $0.00001872, with a potential run to $0.00002745 if bullish momentum holds. Rose Premium Signals identifies the 0.618 Fibonacci retracement level at $0.00000941 as a potential entry point.
- RSI Signals Correction: Currently trading at $0.00001384, PEPE’s RSI sits at 71.4, suggesting a possible cooldown or consolidation before any further upside. Traders are watching key support levels closely, as a drop below them could shift sentiment and weaken the bullish setup.
PEPE/USDT, after a major drop, appears to be setting up for a potential turnaround. According to Rose Premium Signals, a rounded bottom pattern has emerged, a formation that often hints at a bullish reversal. With this setup in play, traders are now paying close attention to PEPE’s price action, anticipating a possible surge.
Testing Resistance: Will PEPE Break Out?
Right now, PEPE is attempting to breach a critical resistance zone that could define its next move. If it manages to surpass this level and then successfully retests it, the stage could be set for a bullish breakout. If the breakout holds, prices could rally toward key targets in the coming sessions. Traders are closely monitoring how the price interacts with this resistance area to gauge the next direction.
Potential Bullish Targets for PEPE
Should a breakout occur, PEPE could first aim for the 0.00001872 level, with the next target at 0.00002745 if bullish momentum persists. These zones may present profit-taking opportunities for traders. However, for PEPE to maintain its upward momentum, it must clear resistance convincingly and establish a strong base above it.
Rose Premium Signals points to the 0.618 Fibonacci retracement level around 0.00000941 as a potential entry point. If the price retraces to this level and finds support, it could be a signal to consider a buy. But if the price fails to hold support, the setup could turn bearish, indicating a potential shift in market sentiment.
RSI Points to Possible Correction
At the time of writing, PEPE is trading at $0.00001384, up 13.3% over the past day. The Relative Strength Index (RSI) currently reads 71.4, signaling that the token may be due for a cooldown or consolidation before continuing higher.
Traders should keep a close eye on support levels in the near term. As long as these support lines hold, the bullish setup remains intact. However, if the price drops below these key levels, market sentiment could shift, and the bullish narrative may weaken.
PEPE appears to be gearing up for a potential reversal to the upside. With a rounded bottom forming and critical support and resistance zones in play, the coming days could be pivotal in determining whether PEPE can sustain a new uptrend or if a correction is in store.
