PEPE's price action has caught analysts' attention once again as they evaluate its potential for another upward rally. Despite recent setbacks, some chart indicators suggest a possible major move.
PEPE’s Critical Price Levels and Fibonacci Insights
Analysts have pointed to key resistance and support levels that could chart the token's path. The memecoin's past high volatility has sparked trader speculation about its future performance. According to InvestingHaven, PEPE’s price is hovering near $0.00001744, just below its former ATH at $0.0000177, now acting as a critical resistance point. Fibonacci retracement levels highlight $0.00008941 and $0.00006328 as key areas to watch. Analysts emphasize maintaining support at $0.00008941 is crucial to sustain bullish momentum towards a long-term target of $0.0000666.
Bullish Signals and Accumulation Opportunities
Ali, a top crypto analyst, highlighted that the TD Sequential indicator recently flashed a buy signal on PEPE’s 12-hour chart. Previously, this indicator predicted a 20% correction, lending weight to its current bullish outlook. Moreover, the 'Buy the Dip' zone identified by InvestingHaven aligns with Fibonacci levels, offering accumulation opportunities for long-term investors.
Key Risks and Resistance
Reaching the projected $0.0000666 target will require PEPE to overcome resistance levels, including its current ATH of $0.00002825. Failing to maintain support at $0.00008941 could lead to prolonged consolidation or further decline. PEPE memecoin remains in the spotlight as traders assess its potential for another major rally. While bullish signals are emerging, key resistance levels and market conditions will determine its trajectory.
The PEPE memecoin may be on the brink of a new price rally, yet its future remains conditional on overcoming key hurdles and sustaining bullish momentum.
