The memecoin PEPE is once again drawing traders' attention after a period of sideways movement. Chart analysis indicates a potential upward trend.
Current Situation Overview
PEPE is showcasing a return to positive price dynamics after an extended downtrend. The latest chart shows a price of $0.00001254 with a 6.8% increase for the day. The increase in green candles indicates rising optimism among traders.
RSI Analysis and Its Implications
The Relative Strength Index (RSI) stands at 68.67, nearing overbought levels. Historically, PEPE has exhibited significant spikes near similar RSI marks. A previous surge of nearly 40% was noted around late April and could potentially repeat.
Key Resistance and Support Levels
The chart shows PEPE approaching a critical resistance level at $0.00001300. A decisive breakout above this level may propel the price toward the $0.00001600–$0.00001800 range. Immediate support is found at $0.00001100.
Given the current charts and RSI, there's a possibility PEPE could reach $0.00001600 within the next 7 to 10 days. However, careful monitoring of indicator changes is essential.
