PEPE Nears Upper Range Boundary After 28% Rally as $0.053806 Support Remains Intact

PEPE rose 28.3 percent in 24 hours, to $0.05488 with a test of $0.055013 resistance.
Excellent gains against BTC and ETH exhibit large movements in key trading pairs.
Price is above the support level of $0.053806 and keeps the short term structure.
Pepe(PEPE) experienced a sharp gain of 28.3 percent in the last 24 hours, which propelled the price to $0.05488. The action put the token close to its intraday resistance of $0.055013. Meanwhile, price was above the support at the listed price of $0.053806. Interestingly, the range of 24 hours is compressed in between the support and resistance keeping short-term attention to level interaction.

Price Structure Approaches Immediate Resistance
Price action shows PEPE trading just below the $0.055013 resistance. That level caps the current 24-hour range. Nevertheless, buyers remained in control above the support of $0.053806 during the session. The 28.3 percent growth is a sign of violent rising participation. Also, the token increased by 25.7 percent over the BTC to 0.0106882 BTC. It also climbed by 26.9 percent against ETH reaching 0.082331 ETH.

These cross-pair returns go hand in hand with the dollar-Denominated rally. This saw momentum spread in big trading pairs. Consequently, short-term positioning focuses on the ability of bulls to have a decisive move above $0.055013. TradingView data indicate growing volatility as retailers and wholesalers responded on both sides of important levels.

Technical Indicators Signal Strong Upside Momentum
The chart displays a clear upward push into the upper boundary of the visible range. The RSI is trading at 81.58 showing that PEPE is in bullish momentum.