$PEPE Must Break Resistance to Lead Memecoin Sector Rebound

The memecoin sector has seen a strong rebound in the past 24 hours, with market cap rising 13% to $25 billion. Pepe [$PEPE] was among the top gainers, surging over 12% as its daily volume exploded by 182% to $305 million.

This price surge suggests that bulls are gaining momentum, but for them to take control, $PEPE must breach a key resistance zone at the $0.00000290-$0.00000300 level. This area formed at the neckline of an inverted heads-and-shoulders pattern, which hinted at bullish strength.

Reinforcing this view, the SuperTrend indicator has flipped bullish, and Open Interest (OI) on Binance stood at $44.25 million. However, if the breakout attempt fails, the bearish target remains at $0.00000250.