Chart Pattern: Falling wedge (bullish) identified on the weekly chart.
Indicators:
RSI: Above 50 on daily, weekly, and monthly charts, indicating bullish momentum across timeframes with no immediate overbought conditions (RSI < 70).
EMA: Bullish on weekly and monthly charts (price above key EMAs).
Current Sentiment: Mixed but leaning bullish. X posts highlight optimism, with traders noting a bullish pennant, whale accumulation, and parallels to PEPE’s 2023 breakout structure. However, recent price dips suggest caution.
Key Narratives:
A dormant whale withdrawing 2.2T PEPE ($29M) from Binance on May 19 signals strong holder confidence.
Predictions of a 50-100% rally if the short term bullish pennant breaks, with a potential new ATH in June 2025.
Correlation with Bitcoin’s ATH proximity suggests PEPE could benefit from a broader crypto rally.
Conclusion:
PEPE is well-positioned for a potential bullish breakout in the near term, supported by the falling wedge, RSI > 50, and bullish EMAs across timeframes. Its meme coin nature ties its performance to community hype and broader crypto market trends, particularly Bitcoin’s trajectory.
Not financial advice.
Indicators:
RSI: Above 50 on daily, weekly, and monthly charts, indicating bullish momentum across timeframes with no immediate overbought conditions (RSI < 70).
EMA: Bullish on weekly and monthly charts (price above key EMAs).
Current Sentiment: Mixed but leaning bullish. X posts highlight optimism, with traders noting a bullish pennant, whale accumulation, and parallels to PEPE’s 2023 breakout structure. However, recent price dips suggest caution.
Key Narratives:
A dormant whale withdrawing 2.2T PEPE ($29M) from Binance on May 19 signals strong holder confidence.
Predictions of a 50-100% rally if the short term bullish pennant breaks, with a potential new ATH in June 2025.
Correlation with Bitcoin’s ATH proximity suggests PEPE could benefit from a broader crypto rally.
Conclusion:
PEPE is well-positioned for a potential bullish breakout in the near term, supported by the falling wedge, RSI > 50, and bullish EMAs across timeframes. Its meme coin nature ties its performance to community hype and broader crypto market trends, particularly Bitcoin’s trajectory.
Not financial advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.