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PEPE is flexing its technical strength after successfully flipping the key 50 Exponential Moving Average (EMA) into support, a move that has caught the attention of bullish traders. Following a solid close above this crucial level, the meme coin is now showing signs of sustained momentum, suggesting that bulls may be gearing up for the next upward move.
The price action reflects renewed confidence in PEPE’s short-term structure, with buyers defending the breakout and positioning for further upside. As the broader market steadies, PEPE’s resilience could mark the beginning of a fresh rally.
PEPE Breakout Potential Grows With Structure Intact
In a recent update shared on X, UniChartz highlighted that PEPE has successfully closed above the 50-day EMA, following a decisive reclaim of a key resistance zone that previously served as solid support. This move is a notable technical development, as it signals growing bullish momentum and hints at a possible trend reversal taking shape.
The breakout above the 50 EMA is often viewed by traders as a shift in market sentiment, marking a transition from bearish pressure to potential upward continuation. With this zone now acting as support once again, PEPE appears to be regaining traction. If buyers continue to defend this level and volume increases, it could open the door for further upside in the near term.
He also noted that the Relative Strength Index (RSI) is on the rise and currently hovers around the 63 mark, reflecting growing buying momentum but not yet overbought. This positioning suggests that buyers are gaining control, with room for more growth before any major correction pressure sets in.
In conclusion, he emphasized that if PEPE continues to hold above the recently reclaimed zone and maintains its position above the 50-day EMA, it will trigger a sustained upward move toward previous highs. This stable footing would likely reinforce bullish confidence in the market.
Bullish Continuation On The Horizon
PEPE’s recent price action is sending strong signals that a bullish continuation may be taking shape. With the price holding firm above a key support zone and the 50 EMA acting as dynamic support, the meme coin’s future outlook seems promising. Momentum indicators like the RSI have risen, showing growing buyer interest without overextension.
If PEPE maintains its grip on the current support and buying volume picks up, the stage could be set for an upswing with a potential retest of the $0.00001152 resistance level. A decisive break above this barrier may open the door for further gains, with the next key target lying around $0.00001313.
