PEPE Faces Resistance, But Bullish Trend Remains Strong
PEPE’s price has recently faced a setback, but the overall bullish momentum is still intact. The cryptocurrency encountered a significant resistance level, causing a temporary retreat. However, this pullback could be a buying opportunity rather than a reversal.
Analysts are closely monitoring PEPE’s price action.
PEPE recently hit a resistance level, causing a slight pullback. Despite this, the overall bullish trend is still strong. This dip might be a chance to buy rather than a sign of a reversal.
Analysts believe the current dip could form a higher low, which is good for the market.They are watching to see if the price stays above key support levels. If it does, the rally could continue.
- Support Zone Confluence: The price is testing support at the value area high, matching the 0.618 Fibonacci retracement and VWAP. This is a strong bullish signal.
- Bullish Market Structure: The trend of higher highs and higher lows is still in place. the pullback is seen as a healthy retest of the trend.
- Volume Profile Insights: A recent volume peak might indicate a short-term top. But for PEPE to break through resistance, more buyers need to step in.
PEPE’s price is now in a demand zone. This area includes the value area high, the 0.618 Fibonacci level, and the VWAP. These factors make it a strong support zone.
PEPE is still showing a pattern of higher highs and higher lows. The recent correction doesn’t change the bullish trend. if the price closes above the support zone on the 4-hour chart, more gains are likely.
Volume is crucial here.A recent volume peak might show short-term exhaustion, but it doesn’t signal a long-term reversal. For PEPE to push higher, buyers need to show more interest.
If PEPE holds this support zone,it could move back toward resistance. A accomplished breakout, with strong volume, could lead to new highs. Until the bullish structure changes, dips like this offer buying opportunities.
