Following the recent U.S. elections, the PEPEUSD pair began an upward trend, drawing attention from many investors. While today’s momentum has slowed, this could be precisely what PEPEUSD needs to regain strength in the coming days. In this analysis, we’ll examine key levels and indicators that could shape the future movement of this cryptocurrency.

Key Resistance and Support Levels

R1 (First Resistance Level):
The first resistance level marks the point of rejection during the initial wave of growth. This zone is significant as it highlights a clear boundary between buying and selling pressures in the market. If PEPEUSD retests this level and breaks through, it could signal a continuation of the upward trend.

R2 (Second Resistance Level):
This level represents the highest price point in the current cycle. If PEPEUSD manages to surpass this level, it could transform into a new support zone, paving the way for further growth. However, if rejection occurs here, a temporary correction is likely.

RSI (Relative Strength Index) and Market Sentiment

The RSI currently indicates that the market is in overbought territory, meaning there’s a risk of correction. However, this minor correction could offer an opportunity for investors looking to enter the market at a more favorable price before a potential new wave of growth.

Conclusion

The current slight dip in PEPEUSD could be an ideal entry point for those who believe in the long-term potential of this pair. If the price breaks through the key resistance levels, PEPEUSD could see substantial growth in the upcoming period.