PEPE coin price is squeezed within a pennant pattern as buyers defend higher support levels. As overhead resistance thins and volume increases, signs in the market point to a continued increase in price. PEPE Coin Price Bullish Pennant Formation Analyst Clifton FX identified a bullish pennant formation on the 4-hour PEPE/USDT chart. This usually marks a continuation after a strong upward move. A pattern appeared in the chart where highs were falling and lows were rising, both headed toward a point near the top. PEPE Coin Price Chart Source: X Notably, the accumulation began as PEPE Coin price surged strongly upward. Structurally, the pennant seemed clear, pointing to bulls being in charge while small losses and hesitation created short draws. Consequently, if PEPE moves up above the upper trendline in high volume, it may surge by 50% to 100%. According to the measured move, the target is between $0.000016 and $0.000019. Additionally, the momentum leading to this point and the tight pennant suggest a strong chance for upside. However, a failed breakout may push PEPE below the key level of $0.0000086, making the earlier rally invalid. Sell Wall at $0.0000137 Remains a Key Level to Watch According to Analyst CW, PEPE coin price has crossed a crucial resistance zone at $0.0000137, acting as the main sell wall. This area has consistently stopped the price from making a decisive breakout. PEPE Coin Price Chart Source: X In addition, the chart indicated that below this level, volume was rising. This demonstrated that buyers are fighting to prevent dips and getting ready for another surge. Volume appeared to be gradually building, signaling a shift in momentum toward bulls if resistance is broken cleanly. CW noted that after PEPE Coin price gets past the resistance, the next big sell point is at around $0.000025. Little resistance to a price increase means that it could rise fast. Technically, crossing this range from above could lead to a rally of up to 80%, as the earlier bullish pennant projections indicated. However, failure to overcome the red zone may lead to a retest of support levels, keeping PEPE in consolidation. Moving Averages Support Uptrend Momentum More so, analyst Willjayducks pointed out a positive technical pattern in PEPE coin price. It climbed above the main resistance points and formed a bullish pennant. The top meme coin moved past both the 100 and 200-day EMAs on the chart, indicating an uptick after a period of consolidation. PEPE Coin Price Chart Source: X The token has been tightening near $0.000015, forming a pennant shape, which is typically seen before a continuation breakout. Bullish sentiment is also confirmed by the increase in the volume profile during the current rally. On the chart, resistance at $0.0000102–$0.0000106 that turned into support, highlighted by the green zone, was successfully reclaimed. If PEPE coin price breaks above the current pennant, it could move toward the red band in the $0.000020-$0.0000225 range. Besides, the confluence of price structure, moving average crossovers, and reduced overhead resistance adds strength to the bullish bias. However, rejection here could lead to a retest of the reclaimed support zone. Further supporting a bullish outlook, a recent analysis showed PEPE coin price broke above a key downward trendline, signaling a possible trend reversal. A rounded bottom pattern on the weekly chart and rising trading volume reinforce this view. Additionally, the 0.618 Fibonacci level at $0.00000941 offered strong support. On-chain data revealed a surge in derivatives volume to $2.48 billion, while the frog-themed meme coin price rallied over 4% to $0.00001368 in the last 24 hours.