$PEPE could be on the verge of another rally, on one condition - AMBCrypto Analytics

PEPE is currently navigating a pivotal moment that could shape its short-term trajectory. Over the past two weeks, the memecoin has struggled to sustain the bullish momentum it achieved in September, losing some of its gains. As of now, PEPE is trading at $0.00000.935, reflecting a 2.63% increase in the last 24 hours. Despite recent pullbacks, PEPE has just retested its ascending support line, which indicates that a bullish bias may still be intact. The RSI has fallen to the 50% level but remains slightly above, signaling a potential pivot point and suggesting that bullish momentum is still in play.

This current positioning highlights the importance of demand in determining PEPE's direction. Should demand increase, further upward movement is likely. However, if bears take control and demand remains low, the memecoin may face significant price weakness. As the market watches closely, the coming days will be crucial for PEPE's short-term outlook.