Pepe is showing early signs of a possible bullish reversal despite broader market volatility. Technical indicators confirm the presence of key support levels.
Dynamic Support Holding
The price has formed consecutive higher lows along an ascending trendline. Each corrective move has found buyers along this trendline, reinforcing bullish sentiment.
Bullish Retest of Order Block
The recent pullback into a significant support zone, which previously acted as resistance, is interpreted as a bullish retest. The support is validated by the 0.618 Fibonacci level, indicating a potential bounce.
Expectations in Price Action
If Pepe manages to hold above the dynamic support and confirm a higher low, a rotation towards the previous swing high is expected. However, a breakdown below this level would shift the structure to neutral or bearish.
While the overall market may remain in correction, Pepe's structure appears stable. Support levels need to hold firm, increasing the likelihood of a continued rebound.
