фото показано с : bravenewcoin.com

Following a period of decline, PEPE appears to be gaining momentum, bouncing back from a critical support level. Market analysts are now predicting that PEPE could experience a sharp rebound, potentially surging over 60%.

PEPE has encountered several challenges over the past few weeks, with consistent price drops reflected on daily, weekly, and monthly charts. These declines have left investors concerned about the future of the coin. However, many market observers are seeing potential in the current price action, particularly with PEPE nearing a key support level of $0.0000058.

PEPE is holding above the immediate support at lower Bollinger Bands near $0.0000058. Source: TradingView

Despite the ongoing decline, technical analysis shows PEPE’s price forming a symmetrical triangle. The pattern is usually considered bullish, and as such, it suggests that PEPE is undergoing an accumulation phase. Historically, these patterns have translated into significant price action, and some analysts believe that PEPE will break out to the upside.

“The present formation indicates that PEPE is on the cusp of a potential rally,” according to one analyst. “If the price keeps the support level, we can see a rally of up to 65%, targeting levels of $0.00001144.”

Though the long-term future for PEPE is optimistic, there are technical indicators pointing toward a near-term drop prior to any considerable positive movement. Bollinger Bands, or measuring volatility, suggest that PEPE is around the middle band, which normally functions as resistance. Additionally, Chaikin Money Flow (CMF), measuring buying pressure against selling pressure, is currently distributing with higher selling than buying pressure. But notice that the CMF is still in the positive territory, which means selling pressure is not strong.

PEPE is nearing a key support level at the 65% Fibonacci retracement, setting the stage for potential consolidation and increased demand. Source: DEXWireNews on TradingView

The small dip expected can function as a temporary setback rather than a longer-term downtrend. “The accumulation phase we’re seeing could lead to a strong reversal once the price hits key support levels,” explains another market expert. “If the support holds, PEPE could quickly regain lost ground and potentially rally.”

In addition to the technical signals, recent history of trading shows that PEPE is in a period of accumulation rather than a panic selling situation. Spot market data show that approximately $2.78 million worth of PEPE were recently sold, but selling is relatively slow in pace, and this suggests that investors may be waiting for a better entry point.

The token is testing upper resistance and the MA 50, with accumulation signaling momentum for a potential breakout. Source: Jonathan Carter via X

This organized selling process is a positive sign for long-term investors since it shows that the current level of price is being regarded as a good buying position. With increasing traders buying PEPE, there are better chances of a breakout, and the coin can soon witness a thrust towards $0.00001144 or higher.

Despite recent lows and bearish signals, the overall sentiment towards PEPE is still bullish. Analysts are keeping a close eye on the $0.0000058 support level to determine if PEPE will recover successfully and continue its rally. If the support level is maintained, PEPE could experience a sudden price surge, with some analysts even reaching a 60% near-term increase prediction.

PEPE needs to consolidate after a major correction, resetting the RSI and building momentum for a breakout later this year. Source: Schwagwon on TradingView

In addition to that, PEPE’s community remains one of its strongest suits because the meme coin continues to attract interest and volume. The more popular it gets, however, some believe that PEPE could even overshadow other meme coins like Shiba Inu down the line as long as it can overcome big resistance levels on the next bull run.

As the market is poised for a potential breakout, the recent PEPE price prediction suggests the meme coin can rally more than 60% if it manages to rebound from its support level. Traders must, however, exercise caution in the short term, as technical indicators show some selling pressure. Watching the key support level at $0.00000681 will be key in knowing whether PEPE will continue its uptrend or experience further drops.

While the outlook for PEPE is not clear, its niche in the meme coin space and constant community activities ensure that it will continue to attract the attention of crypto enthusiasts and traders. Like with any other investment, investors must keep themselves informed and monitor the market closely to understand any opportunity that might present itself.

8 +