Pepe meme coin is showing growth and forming a bullish pattern. Analysts believe this could signal a significant rally.
Head-and-Shoulders Pattern and Its Impact on Pepe
Analyst Ali Martinez identified that Pepe is forming a bullish inverse head-and-shoulders pattern on the hourly chart. This pattern consists of three troughs: a lower low (head) between two higher lows (shoulders), with a resistance neckline connecting the peaks. A breakout above this neckline often indicates a strong upward move, showing buyers are regaining control.
Experts' Opinions on Pepe's Future Price
According to Martinez, the neckline for $PEPE currently stands at $0.0000073. A breakout above this level could push the price to $0.000015 in the coming weeks, offering a clear 2x opportunity for buyers. Other analysts emphasize the importance of flipping the $0.0000073 S/R level, which has been a resistance for Pepe since late February. The recent market correction reset the Pepe Relative Strength Index (RSI-14), providing further potential for expansion.
Other Promising Meme Coins
Besides Pepe, Fartcoin also shows bullish charts, forming a divergence on the daily timeframe. Investors focusing on high-performing Solana-based meme coins may consider Gigachad, which has risen by over 40% in the past week. Newly emerging cryptos like BTC Bull (BTCBULL), which raised about $4 million in its ICO, are also catching attention.
Pepe continues to be a focal point for analysts, forecasting a potential price surge in Q2. The stability of ETH will also play a critical role in Pepe's success.
