Since late 2024, Pepe Coin has suffered a significant decline, but analysts see potential for new growth thanks to positive chart signals.
Analysts Predict Pepe Coin Breakout
In a recent tweet, prominent crypto analyst Ali Martinez pointed out that Pepe Coin is forming an inverse head and shoulders pattern on the hourly chart, suggesting a price jump could be on the horizon. Martinez identifies the key resistance level at $0.0000075. Breaking above this level could trigger a 40% price surge towards $0.0000100. Similarly, CryptoELITES noted that the bottom was confirmed at $0.0000069834, and since then, the price has risen, reinforcing bullish sentiment.
Bullish Signals Hint 50-60% Surge
World of Charts highlights that Pepe Coin is trading in a crucial zone and is once again forming an inverse head and shoulders pattern, strengthening the case for a breakout. A 50-60% surge is forecasted if the breakout occurs. Coinglass data also reveals an over 8% increase in futures open interest and a nearly 16% surge in derivatives trading volume, suggesting more traders are betting on Pepe Coin's continued rise.
PEPE Technical Analysis: A Breakout Ahead?
Technical analysis indicates a possible breakout for Pepe Coin. It has formed a double-bottom pattern at $0.0000069, a signal for a trend reversal. The key resistance level is $0.0000082—breaking above it could confirm a bullish move. Indicators like RSI and MACD show a bullish divergence, indicating momentum shift. However, falling below $0.0000053 could negate the bullish outlook.
Despite the recent sharp decline, analysts' forecasts bring hope for Pepe Coin's growth. Key technical levels like $0.0000082 will be significant in determining the future movement direction.
