The PEPE price broke out from a short-term descending resistance trend line but trades under a long-term one.

PEPE Approaches Long-Term Resistance

The technical analysis of the weekly time frame shows the PEPE price has decreased under a long-term descending resistance trend line since May 2023. The decrease led to a low of $0.00000059 in September. The PEPE price has increased since.

Until now, PEPE has made three unsuccessful attempts at breaking out (red icons). It has nearly reached the resistance trend line to make its fourth attempt.

The weekly Relative Strength Index (RSI) is bullish. When evaluating market conditions, traders use the RSI as a momentum indicator to determine whether a market is overbought or oversold and whether to accumulate or sell an asset.

If the RSI reading is above 50 and the tren

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Author: Valdrin Tahiri

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