Pepecoin (PEPE) price breaks out of a rounded bottom on the 4-hour chart, indicating bullish continuation.

Pepecoin (PEPE) price has broken out of a rounded bottom formation on its 4-hour price chart, a key bullish pattern that suggests a further upside.

Pepecoin (PEPE) price has broken out of a rounded bottom formation on its 4-hour price chart, a key bullish pattern that suggests a further upside. After rising 72.96% over the past month and 12.89% in the past 24 hours, PEPE is trading at $0.00001561, just below its local resistance at $0.00001600.

Talking about the pattern, the rounded bottom formation occurs when a trend reaches a low point and begins to curve upward, eventually forming a U-shaped pattern. This pattern is typically seen at the bottom of a bear market or when a stock is oversold and due for a rebound.

The pattern is also characterized by a high volume of trading activity, as traders become interested in the stock and begin to push the price higher. The pattern is complete when the stock closes above the pattern's neckline, which is the level that connects the pattern's lows.

In the case of Pepecoin, the pattern's neckline is at $0.00001500, and the pattern's lows are at $0.00001360. The stock has already closed above the neckline and is now trading at $0.00001600, which is also a key resistance level.

If the stock can break above this level, it could continue to rise to the next resistance level at $0.00001800, or even its all-time high of $0.00002378. However, on the downside, support is at $0.0000150, below which, a decline could be seen to $0.00001360, which is also the pattern's support.

A breakdown below this level could invalidate the breakout pattern in the short term.

Pepecoin is a new cryptocurrency that has been gaining popularity in recent months. The token is a fork of Ethereum and is used to power the Pepecoin blockchain. Pepecoin is a decentralized and open-source cryptocurrency that aims to provide a secure and efficient platform for digital currency transactions.

Pepecoin is a meme coin, and it has been the subject of much attention and speculation in the cryptocurrency market. The token has seen impressive gains in 2024, and it is one of the best-performing cryptocurrencies this year.

Pepecoin has also faced criticism for its high energy consumption and its potential for use in illegal activities. However, the token's supporters argue that it is a legitimate cryptocurrency with a strong community and a bright future.

Only time will tell what the long-term impact of Pepecoin will be. However, there is no doubt that the token has made a significant impact on the cryptocurrency market in the short term. It will be interesting to see what the next chapter holds for this popular meme coin.

Pepecoin (PEPE) Price Combinations

The Relative Strength Index (RSI) is currently at 67.73, approaching the overbought zone, which suggests that the token could be due for a period of consolidation or correction in the short term.

If the bulls remain in control and push the price above the $0.00001600 resistance, the next resistance level to watch is at $0.00001800, which could be a stepping stone to the all-time high of $0.00002378.

On the other hand, if the bears regain control and break the $0.00001500 support, the next support level is at $0.00001360, which is the pattern's low and could provide some support for the token.

Overall, the rounded bottom breakout is a bullish signal that suggests that the token could continue to rise in the short term, if the volume supports the move. However, the RSI is approaching the overbought zone, which suggests that the token could be due for a period of consolidation or correction.

The token is also facing resistance at the $0.00001600 level, which could limit further gains in the near term.

If the bulls can push the price above this level, the next resistance level is at $0.00001800, which could be a stepping stone to the all-time high of $0.00002378.

On the other hand, if the bears regain control and break the $0.00001500 support, the next support level is at $0.00001360, which is the pattern's low and could provide some support for the token.

A breakdown below this level could invalidate the breakout pattern in the