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Pepe price technical analysis
A strong Ethereum price breakout may also lift Pepe and other Ethereum-based tokens. The daily chart suggests that Pepe is positioning for a significant bullish breakout.
Oscillators such as the Percentage Price Oscillator and the Relative Strength Index have started forming a bullish divergence pattern. This divergence occurs when these oscillators trend upward while the assetโs price remains in a downtrend.
At the same time, Pepe is forming a bearish divergence pattern, which consists of two converging downward trendlines. These lines are approaching their confluence level, a point where bullish breakouts often occur.
The first key level to watch for Pepe is the 200-day moving average at $0.00001351, which represents a 35% increase from its current price. Further gains could push Pepe toward its all-time high of $0.000028, marking a 175% surge.
However, if Ethereum continues to weaken, Pepe could decline further, initially to $0.0000060 and then to $0.0000038, levels that marked its lowest swings in August and April last year.
#PEPE# #ETH#