The frog-themed memecoin PEPE saw a notable price jump of 3.7% over the last 24 hours, reaching $0.00000967. This rally comes amid a shift in market sentiment, supported by technical bullish signals and easing geopolitical tensions, offering investors a renewed appetite for speculative crypto assets.
Golden Cross Boosts PEPE Price Outlook
A significant technical milestone was achieved on July 2 as PEPE formed a golden cross, where its 50-day moving average crossed above the 200-day moving average. This rare event is often seen as a bullish long-term indicator, historically linked to sustained rallies in asset prices.
The golden cross reflects building upward pressure and growing investor confidence.
Although it’s a lagging indicator, the pattern reflects the momentum shift in favor of bulls, confirming that recent accumulation and higher lows are supporting a broader price recovery.
Higher Lows Confirm Uptrend Structure
Technical analysis indicates that PEPE has formed a consistent series of higher lows, marked at:
- $0.00000920
- $0.00000927
- $0.00000948
These price levels form a supportive ascending structure, often observed in assets preparing for breakout moves. A brief pierce through resistance at $0.00000963 during the session was met with a spike in trading volume, underscoring strong buyer interest.
Volume strength during resistance breakouts typically validates bullish intent.
With volume surging during the breakout, market watchers are now focused on whether PEPE can establish support above the $0.00000960 zone and push toward the next target near $0.00000990.
Macro Conditions Add Fuel to Rally
Beyond charts, macroeconomic conditions also played a role. Hints of a potential U.S.-India trade agreement and easing tensions between Iran and Israel have allowed traders to return focus to economic fundamentals rather than risk-off sentiment.
U.S. President Donald Trump’s statement on not delaying the July 9 tariff deadline created brief uncertainty, but diplomatic signals have kept broader market sentiment intact.
Key Takeaways:
- PEPE rose 3.7% to $0.00000967, forming a golden cross on the daily chart.
- Higher lows confirm upward price structure, with resistance pierced at $0.00000963.
- Rising volume during breakout adds confidence to bullish thesis.
- Global market stability supports speculative crypto rallies like PEPE.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.