The Pepe (PEPE) coin price broke out from a long-term diagonal resistance line and reached a new monthly high on June 23.

The PEPE price is trading in a continuation pattern, a breakout from which will confirm that the price will head to a new monthly high.

PEPE Coin Price Clears Long-Term Resistance Line

The Pepe coin has decreased under a descending resistance line since May 13. While doing so, the price fell to a low of $0.00000081 on June 10. The price bounced afterward, validating the $0.00000088 area as support.

On June 21, the price broke out from the resistance line, confirming that it had completed its correction. PEPE reached a high of $0.0000017 before falling.

The Relative Strength Index (RSI) supports the continuing increase. With the RSI as a momentum indicator, traders can determine whether a market is overbought or oversold and decide whether to accumulate or sell an asset.

Bulls have an advantage if the RSI reading is above 50 and the trend is upward, but i

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Author: Valdrin Tahiri

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