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PEPE bulls are setting their sights on a breakout, but the $0.00001313 resistance level stands as a major obstacle. After a promising recovery attempt and momentum building, buyers must prove their strength to push the price higher.
This key level has already acted as a barrier, and another rejection could shift control back to the bears, potentially triggering a fresh downturn. With upside pressure building, a decisive move above $0.00001313 is set to renew bullish dominance, fueling optimism for further gains.
However, failure to break through might lead to increased selling pressure, putting PEPE at risk of a pullback. As the battle between buyers and sellers intensifies, the coming sessions could be decisive in shaping PEPE’s next big move.
Can Bulls Overcome $0.00001313? Analyzing PEPE Price Action
After rebounding strongly from the $0.00001152 support level, PEPE has demonstrated a positive move, surging towards the critical $0.00001313 resistance. This recent price action reflects a solid recovery, with buyers taking charge and driving the price upward despite earlier challenges.
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The push toward $0.00001313 is significant, as it marks a major resistance level where the bulls need to enact strength in order to sustain the momentum. Significantly, this move shows that PEPE is attempting to regain its bullish trend, but breaking through the $0.00001313 resistance is crucial.
Additionally, the Relative Strength Index (RSI) reinforces the idea that the meme coin is gaining strength. Recently, the RSI has moved out of the oversold zone, indicating that the intense selling pressure has begun to subside. As it progresses toward the 50% threshold, it suggests a shift toward a more balanced market where buyers are starting to take control.
The 50% level is often seen as a critical point in technical analysis, marking the line between a neutral and a bullish trend. PEPE’s movement toward this level implies it might be on the verge of entering a bullish phase, where extended upward momentum is possible.
If the RSI breaks above 50%, it will further validate the strength of the recovery, allowing bulls to regain confidence. However, if the RSI stalls or dips back below 50%, it may imply that the momentum is not yet strong enough to sustain a breakout.
Positive Vs. Negative Pressure
At the critical $0.00001313 resistance level, PEPE is at a crossroads between bullish momentum and bearish pressure. Bulls have pushed the price higher, but this key resistance has proven difficult to overcome.
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Should the bulls breakthrough, it could signal the start of a new rally, causing the asset to challenge the $0.00001731 resistance level. Nonetheless, if bearish pressure prevails, PEPE may face a pullback toward the previous support of $0.00001152. The outcome of this battle will determine whether the meme coin can continue its recovery or if the bears will regain control.
Featured image from Shutterstock, chart from Tradingview.com
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