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- PEPU remained within a bullish symmetrical pattern and appeared poised for further upside.
- Bullish technical indicators suggest that the asset's upward momentum continues.
In the last 24 hours, Pepe Unchained [PEPU] It soared 75.18% after listing on Uniswap amid growing excitement about the upcoming Layer 2 blockchain.
This rally is related to the Uniswap listing, which is attracting a lot of interest from traders.
PEPU increased by 67%?
PEPU has seen impressive 24-hour gains during the startup phase, and that momentum is likely to continue.
The asset was trading within a symmetrical triangular pattern formed by the convergence of support and resistance lines. This pattern suggests a typical accumulation phase for market buyers.
PEPU is testing the resistance line and is on the verge of a breakout. If successful, the price could jump 67.84% to reach $0.041, the highest price since its launch.
Source: DekuScreen
As the technical indicators indicate, a breakout seems likely, supported by continued accumulation and rising momentum.
More traders are accumulating PEPU
PEPU has seen increasing accumulation among market participants, as shown by the Accumulation/Distribution (A/D) indicator.
The A/D pattern recently broke above the downtrend line and is returning to its starting point at -1.37 million. If this momentum continues, asset prices could rise further. The A/D indicator moving towards positive territory indicates increasing upside potential.
Source: DekuScreen
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 emergence is highlighted by two consecutive rising MACD histogram bars, also indicating increasing momentum. This suggests that PEPU is well-positioned for further upside from current levels.
Meme market takes a hit
The meme coin market has fallen over the past 24 hours. Market capitalization fell sharply by 2.99% to $115.32 billion, and trading volume fell sharply by 34.83% to $29.43 billion.
Among the top 10 meme coins by market cap, PEPE was facing significant pressure. A significant price decline of 10.79% was recorded.
Despite the overall market decline, PEPU's continued upward momentum highlights its growth potential. If the memecoin market stabilizes and rises again, this asset will benefit greatly.
