Crypto analyst Mammon revealed on X (formerly Twitter) PEPE’s price robust performance after reclaiming critical support levels. Following this support reclamation, PEPE experienced an impulsive upward move, sparking speculation that it may be gearing up for further gains.
This relative strength comes amid renewed interest in Ethereum-based assets, as the ETH/BTC pair has recently shown signs of bullish momentum, drawing attention to well-known meme coins like PEPE.
Mammon’s tweet indicates that PEPE may continue moving upward, provided it holds its reclaimed support levels. This surge in buying interest and favorable positioning within the local trading range has led to optimism among traders that PEPE could break past key resistance zones if the current trend persists.
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PEPE Price Key Support and Resistance Levels
According to the chart analysis, PEPE has established a strong support base, marked by a prominent blue zone at the lower end of the chart. This support area represents a level where buyers previously stepped in to defend the price, giving it a solid foundation for potential further gains. The current price action suggests that as long as PEPE maintains this level, it may have the momentum needed for a significant upside movement.
Image Source: X/Mammon
Additionally, several resistance lines are visible, indicating potential hurdles PEPE’s price could face as it attempts to move higher. The highest resistance line, marking the top of the local range, is crucial for any extended rally. Should PEPE overcome this barrier, traders could see further upward potential.
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Show more +Show less – PEPE Volume Profile and Impulsive Move
The volume profile on the chart shows concentrated trading activity around specific price levels, with peaks corresponding to areas of strong support and resistance. As PEPE approaches these peaks, it may encounter higher liquidity, which could either fuel the upward momentum or temporarily pause its progress.
This aligns with the recent impulsive move observed after reclaiming the range lows, signaling robust buying interest and potential bullish momentum.
The upward impulse reflects a shift in trend, as PEPE’s price has spent time consolidating within defined ranges. If the token continues holding above these reclaimed levels, it may act as a springboard for additional gains.
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Market Sentiment Around Ethereum and Meme Tokens
Mammon’s tweet also points to Ethereum’s renewed strength against Bitcoin as a factor benefiting PEPE. With ETH/BTC showing signs of life, traders seem to rotate quickly to well-known Ethereum-based meme tokens, placing PEPE in a favorable position. The increase in attention toward Ethereum and its assets creates a supportive environment for PEPE, enhancing the likelihood of continued upward movement.
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The post Is PEPE Price Ready to Skyrocket? Key Support Holds for Major Move! appeared first on CaptainAltcoin.
