Pepe Displays Strength with Potential Higher Low Formation
Pepe (PEPE) is demonstrating resilience despite market volatility. It’s forming a potential higher low at a key support level, hinting at a possible bullish reversal.
Here are the key technical points:
- Dynamic Support Holding: The price has created higher lows along a rising trendline.
- Bullish Retest of Order Block: The recent pullback too a former resistance zone, now acting as support, suggesting a bullish reversal may be on the horizon.
Here are the critical technical indicators:
- Dynamic Support Holding: The price has consistently formed higher lows along a rising trendline.
- Bullish Retest of Order Block: The recent pullback to a former resistance zone, now acting as support, indicates a healthy retest.
- Confluence with 0.618 Fibonacci: This level aligns with the bullish order block and dynamic support, reinforcing the support zone.
The dynamic support line has been respected since the last swing low. Each corrective move has found buyers along this trendline, reinforcing the higher low narrative.
Adding to this bullish thesis is the 0.618 fibonacci retracement level, which aligns with the bullish order block and dynamic support line, creating a strong foundation for a potential bounce.
While the broader market might potentially be in a corrective phase, pepe’s structure remains intact. if it holds above the dynamic support and confirms a higher low, a rotation toward the previous swing high is likely. However, a breakdown below this level would shift the trend to neutral or bearish.
