Ascending Channel Pattern Promises 124% Breakout From PEPE/USDT 4-Hour Chart on Binance

The chart shows two rising red trendlines — one connecting higher lows and the other tracking higher highs — creating a clear upward-sloping price corridor.

The price of Pepe coin has risen by 450% since the beginning of the year, but can it continue to move higher?

Here's a technical analysis of the P/USDT pair.

Pepe price could surge 124% on breakout

The P/USDT 4-hour chart shows that the price is trading in an ascending channel, which is a continuation pattern.

The lower dashed red trendline is acting as support, while the upper red trendline is offering resistance. This pattern suggests that buyers are in control of the price, but if sellers exert more pressure, the channel could break down.

The price is currently testing the upper red resistance, which could lead to a breakout attempt.

If P/P breaks out of the channel, the price could surge toward the previous horizontal resistance level, which is indicated by the blue line, at around $0.00003141. This move would represent a gain of nearly 124% from the current price.

However, for this bullish scenario to play out, there needs to be confirmation. This confirmation could come in the form of a strong volume spike and a 4-hour candle close above the red resistance line.

Alternatively, if P/P fails to hold the ascending support and breaks below it, the price may fall toward the lower blue horizontal support at $0.00000747, which would mark a decline of around 46% from the current price.

This breakdown would likely occur if a 4-hour candle closes below the lower dashed red trendline, signaling a shift in momentum.

The 50-period Exponential Moving Average (EMA), currently at $0.00001372, is acting as short-term dynamic support, and the price is hovering just above it, suggesting a period of indecision.

Volume has remained steady but low. If volume increases during a breakout attempt, it would add credence to the bullish scenario. Conversely, a drop below the EMA and rising sell volume could push the price into the bearish zone.

The next few candles will likely decide P/P's direction. Until then, both bullish and bearish outcomes remain in play.

Pepe RSI hints at neutral momentum ahead of breakout

The RSI is currently at 52.38, with its moving average at 46.52.

The Relative Strength Index (RSI) is a momentum oscillator that ranges from 0 to 100. Values above 70 suggest overbought conditions, while below 30 indicate oversold levels. A reading around 50 signals balanced momentum.

The RSI is sitting just above the 50 mark, suggesting a consolidation phase. The RSI line has crossed above its average, which could indicate a shift in momentum, but this shift isn't confirmed yet.

If the RSI moves above 60, it could support a breakout toward $0.00003141. Alternatively, if the RSI drops below 45, it would align with a decline toward $0.00000747.

The current RSI level hints at a balanced market with no clear directional bias, which supports the ongoing range-bound structure visible on the price chart.