PEPE Coin is showing signs of an upward trend after breaking the downtrend. Chart analysis points out key levels and support.
PEPE Breaks Downtrend
The price of PEPE has started to show bullish tendencies after breaking the downtrend earlier this month. The coin has risen above several key levels and is heading toward the resistance zone between $0.00001480 and $0.00001550. This movement follows weeks of sideways trading, indicating a return of buyers to the market.
PEPE Support Near 100 SMA
PEPE's price has moved above the 100-period Simple Moving Average (SMA), which is currently near $0.00001095. This level aligns with the recent breakout zone and is considered strong support. If PEPE pulls back from its current range, this area will be watched by traders for a possible bounce.
Further Tests at Resistance Level
The next major test is the resistance zone located above the current price. This area has previously acted as a ceiling for the price, and traders will observe whether PEPE can break through with sufficient volume. If a rejection occurs, a pullback to the support zone would not be surprising.
Observations of PEPE Coin's price dynamics suggest an optimistic market sentiment. Breaking through resistance may set the tone for future movements.
