- PEPU seemed poised for another rally as it traded within a bullish symmetrical pattern.
- Bullish technical indicators point to continued upward momentum for the asset.
Over the past 24 hours, Pepe has Unchained [PEPU] rose 75.18% after listing on Uniswap, as excitement builds for the upcoming Layer 2 blockchain.
This rally is linked to the Uniswap listing, which has attracted significant interest from traders.
A 67% increase for PEPU?
PEPU had an impressive 24-hour rally during the launch phase and the momentum continued.
The asset traded within a symmetrical triangle pattern formed by converging support and resistance lines. This pattern indicates a typical accumulation phase for buyers in the market.
PEPU was testing the resistance line and is on the verge of a breakout. If successful, the price could rise 67.84% to $0.041 and set a new all-time high since launch.
Source: Dexscreener
A breakout appears likely, supported by continued accumulation and rising momentum, as evidenced by technical indicators.
More merchants collect PEPU
PEPU sees increasing accumulation among market participants, as indicated by the Accumulation/Distribution (A/D) indicator.
The A/D pattern recently broke above a descending trendline and is returning to the starting point at -1.37 million. If this momentum continues, the asset’s price could rise further. The A/D indicator is approaching positive territory, indicating stronger potential for a rally.
Source: Dexscreener
Further supporting this bullish outlook is the emergence of a golden cross pattern. This is marked by the blue MACD line crossing above the orange signal line.
This rise also shows that momentum is increasing, which is highlighted by two consecutive rising MACD histogram bars. This suggests that PEPU is well positioned to move higher than current levels.
The meme market is taking a hit
The memecoin market has seen a downturn in the past 24 hours. Market capitalization fell 2.99% to $115.32 billion, and trading volume fell sharply by 34.83% to $29.43 billion.
Among the top ten memecoins by market capitalization, PEPE was under significant pressure. It registered a notable price drop of 10.79%.
Despite the broader market dip, PEPU’s continued upward momentum underlines its growth potential. The asset will benefit significantly when the memecoin market stabilizes and rebounds.
Credit : ambcrypto.com
