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The Pepe price surged 19% in the last week and 5% in the last 24 hours to trade at $0.00001085 as of 11:30 p.m. EST on trading volume that plunged 5% to $2.7 billion.
Pepe Price Poised For A Continued Rally
The Pepe price has finally breached the upper boundary of the descending triangle pattern at the $0.00001013 resistance to the current price, according to data from GeckoTerminal . The Pepe price bulls are now aiming at a new resistance higher above, as the main indicators show positive momentum.
PEPE now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation of the uptrend. Moreover, the 50-day SMA is now closing in on the 200-day SMA< which may form a golden cross in the coming days, further cementing the general bullish prospects.
The Relative Strength Index (RSI) is now soaring towards the 70-overbought region on the 1-day chart. This is an indication that buying pressure is picking up at this level, which could push the price of Pepe towards the next resistance zone.
The Moving Average Convergence Divergence (MACD) is also positive, as the blue MACD line crosses above the orange signal line, which represents a bullish crossover.
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