PEPE recently made a confirmation of a breakout from the descending channel that dates since December. A new bull phase likely started.
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Key Takeaways
Descending triangle breakout signals a possible trend reversal.
Key Fibonacci resistance near 0.00000817 could act as a barrier.
Bullish wave structure developing with targets beyond 0.00000923.
Pepe (PEPE) is showing early signs of a bullish reversal after a prolonged corrective phase, with key technical indicators pointing to renewed momentum.
A breakout from a descending triangle on the 4-hour chart suggests a shift in trend, while the 1-hour chart indicates the formation of a new impulsive wave.
Using Elliott Wave analysis, Fibonacci retracements, and RSI momentum, we can evaluate the key price levels and potential scenarios for the coming days.
PEPE appears to have completed a prolonged corrective phase, with the 4-hour chart showing a five-wave downward pattern within a descending triangle.
The price rebounded on March 11 from key support near 0.00000543, an accumulation zone that has historically provided strong demand.
This breakout suggests the end of the correction and the potential start of a new bullish impulse.
PEPEUSD retested broken resistance | Credit: Nikola Lazic/TradingView
Fibonacci retracements highlight 0.00000817 (the 0.786 level) as the first major resistance.
A break above this level could confirm the beginning of a broader bullish cycle.
However, failure to hold above 0.00000700 could lead to another retest of the 0.00000650–0.00000543 range before any sustained breakout.
Meanwhile, the Relative Strength Index (RSI) is recovering from oversold levels on higher timeframes, reinforcing the possibility of continued upward momentum.
PEPE Price Prediction
On the 1-hour chart, PEPE has established an impulsive Elliott Wave structure, with waves (i) and (ii) already completed.
The next move, wave (iii), is expected to push past 0.00000861, aligning with the 1.0 Fibonacci extension.
A brief corrective wave (iv) may follow before another leg higher in wave (v), potentially targeting 0.00001072.
PEPEUSD more upside expected | Credit: Nikola Lazic/TradingView
However, if PEPE struggles to hold above 0.00000712 (0.618 Fibonacci level), it may retrace toward 0.00000650 before resuming its uptrend.
The RSI remains neutral, suggesting the market has room for further upside. A confirmed breakout above 0.00000817 would confirm continued bullish momentum, while a drop below 0.00000543 could invalidate the current wave count.
If the bullish scenario holds, PEPE could be on track to test 0.00001000 and beyond in the coming days.
The combination of a descending triangle breakout, strong Fibonacci confluence, and Elliott Wave structure supports the probability of continued upward momentum.
PEPE is in the early stages of a potential bullish breakout, but confirmation above key resistance levels is required to sustain momentum.
Short-Term Target for Wave (v): Above 0.00001000 if momentum sustains.
Invalidation Zone: Below 0.00000543, signaling further downside risk.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Nikola Lazic is a cryptocurrency analyst and investor working in the industry since 2017. He holds a bachelor's degree in Sociology, which enables him to better understand the psychology behind the crowd´s positioning. Consequently his preferred analytical tool is Elliott Wave Theory in combination with price action analysis.
Combining his experience in trading and investing with knowledge in content writing he strives to bring the most accurate and actionable information.
