Pepe Coin

Date: Fri, Nov 29, 2024, 11:28 AM GMTThe cryptocurrency market is seeing significant activity today, with many memecoins and <a href="https://coinsprobe.com/xrp-and-xlm-show-strength-as-key-resistance-approaches-whats-ahead/" rel="noopener noreferrer nofollow">altcoins </a>trending upward as Bitcoin&#39;s dominance continues to decline. BTC dominance has dropped to 58.21% from a recent high of 62.53%. In this shift, PEPE, the popular memecoin, is gaining attention as it edges toward a critical breakout point, with its price up over 2% today.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/b82e50b6ff1e4b7ba1ad7a8f24bfbf0f.png" />Source: Coinmarketcap<h3 id="key-breakout-ahead">Key Breakout Ahead</h3>After its much-publicized <a href="https://x.com/CoinbaseAssets" rel="noopener noreferrer nofollow">listings </a>on Robinhood and Coinbase, PEPE entered a period of correction where it made a low of $0.000017 from the high of $0.0000255, forming a descending triangle pattern. At the time of writing, PEPE is trading directly at its descending resistance trendline of $0.00002019.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/39dbcefa070c4e4e8e32a16c2a2f1622.png" />A confirmed breakout above $0.00002051 could signal a significant upward rally, with resistance levels at $0.00002339, $0.00002414, and $0.00002596. These levels mark potential gains of up to 28% from the current price.The RSI is currently at 56, indicating bullish momentum with room for further upward movement.In case PEPE fails to give a breakout, the price could revisit its key support level at $0.00001840. This level has previously acted as a strong support zone, and a reversal from here could reignite bullish momentum.<h3 id="is-a-breakout-on-horizon">Is A Breakout On Horizon?</h3>PEPE&#39;s current strength, combined with declining BTC dominance, creates a conducive environment for a potential breakout. A breakout above the critical resistance trendline could set the stage for further bullish momentum in the coming days. However, traders should keep an eye on the $0.00001840 support level as a crucial zone in case of a failed breakout.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing in cryptocurrencies.Also Read: <a href="https://coinsprobe.com/bittensor-tao-surges-following-kay-breakout-is-more-rally-on-horizon/" rel="noopener noreferrer nofollow">Bittensor (TAO) Surges Following Kay Breakout: Is More Rally On Horizon?</a>

PEPE Approach Key Trendline Level: Is A Breakout On Horizon?

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