Let's Look at PEPE's Potential Moving Forward

Let's Look at PEPE's Potential Moving Forward
Based on the 4-hour PEPE/USDT chart, we can see an interesting pattern forming. Here are the key observations:

Downtrend Breakout

PEPE had been in a prolonged downtrend channel (marked by the two green lines).

Recently, it broke out of this descending structure, indicating a potential reversal.

Inverse Head and Shoulders Pattern

A possible inverse head and shoulders pattern is forming, which is a bullish reversal signal.

The price is currently testing the neckline resistance.

Resistance Levels to Watch

$0.00000760 – Immediate resistance level.

$0.00001694 - $0.00001900 – The next target zone if the breakout sustains.

RSI Indicator

The RSI is currently around 43.80, meaning it is neither overbought nor oversold.

If buying pressure increases, there is room for further upside.

Potential Scenario
If PEPE manages to break and hold above $0.00000760, it could trigger a rally toward $0.00001694 - $0.00001900 as the next key resistance area. However, if rejection occurs at the neckline, we might see a retest of lower support levels.

Overall, this setup suggests a potential bullish momentum shift, but confirmation is needed with increased volume and a successful breakout. 🚀