PEPE Shows Potential Bullish Reversal Above 800 EMA
Meme coin PEPE is showing bullish signs as it approaches the 800 EMA, indicating a potential bullish reversal. Key points include:
- PEPE has traded below the 800 EMA since January 19, reflecting a prolonged bearish trend.
- Recent price action suggests a possible end to this trend with stronger alignment between short and long-term EMAs.
- The breakout attempt is most evident on the 15-minute candlestick chart but remains unconfirmed on larger timeframes.
- A successful breakout above the 800 EMA could trigger a broader shift in momentum, though risks of rejection remain.
- As of now, PEPE is trading at $0.000009829, up 3.13% in 24 hours but down 3.85% over the past week.
- Resistance exists at $0.00001019, which may hinder upward movement.
