PEPE Surges 50% in a Week as Golden Cross Forms

The PEPE meme coin has experienced a significant price surge over the past week, increasing by approximately 50% to reach a nine-month high of $0.0000049.

According to analyst Giannis Andreou, PEPE's weekly chart is holding a higher low above its 2023 base, indicating that the next test will come at $0.0000048-$0.0000055.

Andreou believes that if the weekly candle closes above the upper boundary and successfully retests it, the price could reach $0.0000065-$0.0000075, with a further recovery scenario targeting $0.000013, $0.000016.

However, he also warned of a potential rejection leading to a drop to the $0.0000023-$0.0000032 range.

Crypto With Gopal noted that PEPE's price is testing the lower trendline after a rejection near $0.0000054, indicating tightening momentum and a bullish setup, but with buyers needing to defend support and reclaim upper resistance for further upside.

Additionally, user Plazma observed that PEPE has formed a golden cross on the 50-day/200-day moving average, which is typically considered a highly positive sign for the price.