PEPE price is consolidating just below critical resistance levels, signaling a possible breakout

PEPE price is consolidating just below critical resistance levels, signaling a possible breakout. Analysts observe a steady accumulation of assets

PEPE price has been consolidating just below critical resistance levels, but analysts at TradingView observe that this could soon change. They note a steady accumulation of assets, which signals growing confidence among investors.

Analysts at TradingView also observe that there is increasing momentum in the market, supported by consistent trading activity. They add that PEPE could soon be positioned for a sharp upward move if buyer strength continues.

PEPE Price Breaks Out of Pennant Formation on 4H Chart

Analyst clifton_ideas on TradingView noticed that PEPE was forming a bullish pennant pattern over the past four hours.

This pattern was spotted when the market recently went into a ranging mode. It is marked by converging trendlines, with a descending upper line and a relatively flat lower support.

PEPE price surged early, forming a pennant that hints at a breakout. The token is now testing the upper boundary of the pattern.

According to analysts, if the token breaks this resistance, then it could climb significantly. A successful breakout might push the PEPE to new highs.

“In case of an upside breakout, we can see a 50–100% bullish rally,” clifton_ideas noted. The previous flagpole’s height is used as a reference for this projection. It often helps guide the next move.

Weekly Chart Shows PEPE Holding Long-Term Uptrend

PEPE price has maintained its long-term upward trend, recently bouncing off support after months of consolidation. It has now reclaimed a key resistance zone, signaling potential strength in the market.

This resistance level had previously rejected multiple rally attempts. However, the recent move above it suggests buyers are regaining control.

The analyst highlighted that the PEPE price is trading just above this zone, which has flipped into support.

If this level holds, PEPE may be ready for its next move toward $0.2192. That target is just below its previous all-time high.

A breakout at this stage could lead to a sharp upward move. Bulls continue to set higher lows on the weekly chart, reinforcing the trend.

PEPE Token Fundamentals Flash Bullish Signal Amid Growing Momentum

Data from different indicators points towards the PEPE price having a strong bullish trend. Most investors, 63%, are currently seeing profits from their investments. Only 28% are facing losses on their original investments.

From this, investors are largely confident, despite being up. Often, it reflects that an investor has long-term confidence in a token’s possibility.

75% of the total PEPE supply has been accumulated by whales and institutions, indicating continual collection by them. This shows smart investors are increasing their positions, expecting prices to rise soon.

PEPE recorded $868.62 million in significant transactions in the last seven days. This confirms that more people are interested in the asset.

There is a strong 0.93 relationship between PEPE and Bitcoin. This suggests the token may closely follow BTC’s bullish trend. Additionally, 94% of holders have held for at least one month, reducing short-term selling risk.

Daily Chart Confirms Strong Bullish Momentum

At press time, the PEPE price was trading at $0.00001423. It has surged 8.13% in the past 24 hours.

The price is nearing the upper Bollinger Band. This level has often acted as resistance in strong trends.

Support at $0.00001171 comes from the 20-day SMA. Because the Bollinger Bands are expanding, this tells us that volatility is rising and may lead to another critical price move.

Positive momentum is still being maintained. RSI stands at 67.82, just below the point where prices could be overbought.

MFI reads 71.71, which indicates that money is flowing in strongly. CVD revealed vigorous buying activity in the market today at 937.81 B.

In this article, the views and opinions stated by the author or any people named are for informational purposes only. And they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Olivia Stephanie is a FinTech enthusiast with a keen understanding of financial markets. Her passion for economics and finance has led her to explore emerging blockchain technology and cryptocurrency markets.