PEPE rose 15.99% over the past 24 hours to $0.000002816, putting a key horizontal resistance level at the center of the current setup. Analyst Globe Of Crypto said the token had spent several weeks moving sideways inside a descending wedge before regaining upward momentum, with the rebound from a major support zone standing out as a possible reversal signal.
Daily close above resistance remains the main trigger
According to the analysis, PEPE’s rebound from critical support would be better confirmed as a genuine breakout if the daily candle closes above the horizontal resistance level. That is the threshold traders are watching now. If buying demand stays in place after that move, the technical projection points to $0.00000550.
The current reading still frames PEPE as being in a recovery phase after the breakout rather than in a fully completed advance. The distance between the latest quoted price and the projected level is notable, but the setup still depends on whether resistance can turn into support on a sustained basis.
MACD strengthens while RSI shows overbought conditions
TradingView data show improving momentum on the MACD. The blue MACD line has crossed above the orange signal line and moved into positive territory, while the green histogram bars are expanding. That combination is generally associated with stronger short-term buying pressure.
At the same time, the RSI is flashing a hotter signal. PEPE’s 14-day RSI has climbed to 80.80, which places the token in overbought territory, and the signal line stands at 60.15. The article notes that RSI had been below 20.00 at the end of June, making the move to above 80 a sharp rebound that reflects how quickly price momentum has accelerated.
Broader crypto sentiment is part of the move
The rally is not being tied only to chart structure. The report says improving sentiment across the wider crypto market, especially with Bitcoin resuming an upward trend, is also supporting PEPE’s price action. That leaves the next move dependent on two conditions at once: PEPE must hold any breakout above resistance, and the broader market needs to keep its current strength.
If that breakout is sustained, $0.00000550 stays in focus as the next technical target. If momentum fades, short-term profit-taking could appear instead. The original report also states that these price targets are not guaranteed and that crypto market volatility remains high.