PEPE Faces Resistance,But bullish Signs Persist
PEPE recently hit a resistance level,causing a slight pullback. Despite this, teh overall trend is still bullish. This dip could be a chance for more gains.
Technical indicators show the market is strong. A higher low may form, suggesting the uptrend is intact.Traders are keeping an eye on this support zone.
Here are the key points:
- Price is testing a support zone with multiple factors backing it.
PEPE recently hit a resistance level, causing a slight pullback. Despite this,the overall trend is still bullish. This dip could be a chance for more gains.
Technical indicators show the market is strong. A higher low may form, suggesting the uptrend is intact. Traders are keeping an eye on this support zone.
Here are the key points:
- Price is testing a support zone with multiple factors backing it – aligning with the 0.618 Fibonacci retracement and VWAP — a strong bullish confluence.
- Higher highs and higher lows continue to define the uptrend; current pullback is seen as a constructive retest.
- A recent volume climax may signal a local top,but continuation above resistance will require fresh volume influx.
Following the rejection at local resistance, PEPE has pulled back into a high-probability demand zone. This area — defined by the value area high, the 0.618 Fibonacci level, and the VWAP — is acting as a dynamic support zone. These overlapping indicators make it a prime location for bulls to defend and re-establish momentum.
From a structural standpoint, PEPE is maintaining a clear pattern of higher highs and higher lows. The recent correction does not invalidate the bullish trend but instead provides a reset within it. Provided that the higher low structure remains intact and price closes above the current support zone on the 4-hour chart, further upside looks increasingly probable.
Volume also plays a pivotal role here. While a recent volume climax hinted at short-term exhaustion, it does not signal a long-term reversal.Rather, it’s a marker of a local top. for PEPE to push higher and breach the current resistance, buyers will need to step in with conviction, marked by increased and sustained volume levels.
If PEPE holds this key support zone, a move back toward local resistance becomes likely. A prosperous breakout, backed by volume, could trigger an expansion phase and new highs. Until the bullish structure is invalidated,dips like this continue to offer potential buying opportunities.
