๐ฅ PEPE Breaks Out of Consolidation
Pepe Coin (PEPE) has broken the upper limit of its consolidative pattern, signaling a potential 25% breakout rally. After a 105% rally earlier in November, PEPE has surged 18% in the past 10 hours, breaking a descending triangle setup. This bullish breakout targets $0.0000264.
๐ Technical Indicators Support Bullish Momentum
The 50-period EMA shows upward momentum, maintaining short-term MA above the long-term 200 MA, a bullish signal. The RSI is approaching overbought conditions, while the Awesome Oscillator (AO) prints green histograms above the 0 level, reinforcing bullish confidence.
๐ PEPE Supply Declines on Exchanges
Investor accumulation is driving optimism, as PEPE supply on exchanges has been declining over the past four months. Reduced selling pressure and increased accumulation by non-exchange addresses further bolster the bullish outlook.
โ ๏ธ Key Levels to Watch
If PEPE fails to hold above the breakout trendline, it risks sliding back into the triangle, potentially dropping to $0.0000193. Maintaining momentum is crucial for the anticipated rally to materialize.
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