After regaining the psychological barrier of $0.10, the PEPE price is ready to rebound. This MEME coin is one of the best performing tokens in the current bull market, having risen nearly 8% in the past 24 hours.
With a market capitalization of $4.31 million, the huge upside potential of this MEME coin makes it a profitable buying option under current market conditions.
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After setting a new all-time high, the PEPE price is currently in a downward channel. However, given the general market recovery in the wake of Donald Trump's victory in the US presidential election, PEPE is ready to return to the bull market.
This week, the MEME coin has risen 25%, breaking through the $0.000010 level, and is forming a bullish flag breakout rebound. With the increase in bullish breakout rebound opportunities, MACD and the signal line are ready for a positive crossover.
As PEPE rebounds from the support area, the indicators turn bullish
On the Pepe chart, we see a bullish trend after rebounding from the key support level of $0.00000080. The price action shows that it has since risen above the 50-day simple moving average. This is a bullish signal, indicating that the buyers have regained control.
If the above holds true, the target is expected to be at the resistance level of $0.00000130, an increase of 54.61% from the current price. If the buyers remain strong, retesting the SMA and breaking through the support area could lead to further bullish momentum.
Momentum indicators also add additional bullish momentum to the market. The Awesome Oscillator (AO) shows green bars, indicating a positive trend, and bullish pressure is starting to build.
The Relative Strength Index (RSI) is also rising. It has broken above the 50 midpoint, indicating that buying interest is increasing.
How big is the rebound potential for PEPE?
The last positive MACD crossover on the weekly chart occurred during the bull market in early 2024, with a gain of nearly 1000%. Based on the recent Fibonacci retracement levels above the bullish flag pattern, the uptrend will challenge the 23.60% Fibonacci level of $0.00001171.
Therefore, PEPE is one of the most worth-buying MEME coins in the crypto market, with huge upside potential.
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