Crypto News– In a recent tweet, cryptocurrency trader and analyst KALEO made a bold prediction about Pepe (PEPE), suggesting an imminent bullish breakout. The analyst stated, ‘PEPE looks ready to finally initiate full send.’ This anticipated bullish movement appears to have already kicked off, as PEPE was observed to have surged by 5.75% at the time of writing, according to CoinMarketCap. This propelled the meme coin‘s price to $0.000001325. While PEPE’s value had slightly retraced from its 24-hour peak of $0.000001328, it still held a position closer to this high than its daily low of $0.000001225.
PEPE Poised for Full Send, Affirms Noted Analyst
The recent positive price performance adds to PEPE’s weekly gains, placing it in the green zone, with a notable 16.87% increase over the past 7 days. This 24-hour surge landed PEPE in the second position on CoinMarketCap’s trending list, just behind Shiba Inu (SHIB) and ahead of Ripple (XRP).
Despite achieving a 24-hour price rise, PEPE did not see a corresponding increase in trading volume during the same period. The total trading volume for PEPE remained at $70,049,191. From a technical perspective, PEPE managed to breach both the 9-day and 20-day Exponential Moving Average (EMA) lines over the past 48 hours, a trend that persisted at the time of writing. Should this bullish momentum persist, the meme coin’s price might set its sights on challenging the key resistance level at $0.0000013586 within the next 24-48 hours.
Achieving a daily close above this level would not only result in PEPE surpassing the 50-day EMA line but would also pave the way for the altcoin’s price to ascend toward the next significant resistance level at $0.0000016790 over the following two weeks. Conversely, if PEPE encounters rejection at the $0.0000013586 resistance, it could potentially revisit the critical support level at $0.0000009930.
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