- PEPE price has surged 3.8% to $0.00001412, breaking above key resistance and signaling bullish momentum toward the next target at $0.00001576.
- Technical indicators support continued upside, though overbought signals suggest a brief consolidation may occur before the next breakout.
The price of PEPE, the popular meme coin, has surged nearly 3.8% in the past 24 hours to trade around $0.00001412 on May 28. This bullish move follows a decisive breakout above a key descending trendline, signaling renewed momentum in the memecoin sector. With the PEPE price now reclaiming crucial support levels, traders are eyeing the next major resistance at $0.00001576.
After consolidating near $0.00001332, PEPE’s breakout was confirmed with strong price action above $0.00001384. This flipped the prior resistance into short-term support, reinforcing bullish sentiment. Technical indicators show a widening Bollinger Band and bullish alignment across the 20, 50, and 100 EMAs, suggesting that upward momentum may persist through the day.
On the 4-hour chart, PEPE’s price pattern has shifted from a falling wedge — a typically bullish formation — into an ascending structure. The 30-minute chart further strengthens the outlook, as the coin pushes toward the Bollinger Band upper limit at $0.00001449, with an RSI of 63.08 and a newly bullish MACD crossover. These indicators reflect increasing buying pressure and renewed speculative interest.
So, what’s fueling today’s PEPE rally? Three technical developments stand out: a breakout from descending resistance on multiple timeframes, a bullish MACD crossover, and growing volatility backed by volume. Additionally, the Ichimoku Cloud on the 30-minute chart confirms a bullish structure, with price trading above the Kumo cloud and a Tenkan-Kijun cross suggesting trend continuation.
The key resistance to watch remains $0.00001576, a level that coincides with a previous rejection zone and the upper boundary of a descending channel. A close above this mark with strong volume could open the path toward $0.00001750–$0.00001800.
However, caution is warranted. The Stochastic RSI is overbought at 97.69, hinting at potential short-term cooling. Immediate support lies at $0.00001332, with deeper support at $0.00001200 if momentum fades.
As long as PEPE holds above the breakout zone, bulls maintain control. Traders should watch for consolidation or a breakout above $0.00001576 to confirm the next leg of the rally.