PEPE Coin (PEPE) Surges 5% – Rounding Bottom Signals Extended Rally Potential
By: fxleaders|2025/05/12 15:45:04
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Pepe Coin (PEPE) is on the move again, up 5% today to $0.00001453, a new high since January 31. This is 68% up for the week, mostly due to a $1.14 million short liquidation which forced bears to cover, and therefore buy. The big bullish signal was when PEPE broke above the 200-day EMA and the 61.80% Fib at $0.00001426. This confirmed the rounding bottom pattern on the chart, which is a bullish trend. If PEPE closes above this neckline, it could go to the pattern target of $0.00003864, 170% from current price. Technical Indicators Support Uptrend Momentum indicators also support the bullish view. MACD has green histograms, buying pressure is building. Both MACD and signal lines are up, more bullish. 50 and 100-day EMAs are up, potential golden cross. If up, next resistance is at $0.00001870 (78.60% Fib), then $0.00002649 (100% Fib), 75% from current price. If can’t close above $0.00001426, consolidation. If below $0.000010, bearish structure broken. Rising Wedge: Be Careful Despite the bullish indicators, be careful. PEPE/USDT is testing the upper boundary of a rising wedge, a pattern that often means reversal. If can’t break above $0.00001478, pullback to $0.00001395 is likely, 50-period EMA at $0.00001235 is strong support. Trade Setup: Buy Above: $0.00001478 Take Profit: $0.00001571 Stop Loss: $0.00001395 Be careful, if below $0.00001395. Mixed signals, watch the close.
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