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PEPE Approaches Key Resistance Level — Breakout Likely

Published
Nikola Lazic
Published
By Nikola Lazic
Edited by Ryan James

Key Takeaways

  • The daily chart suggests PEPE has completed a Wave 4 corrective phase and is likely entering Wave 5.
  • Key Fibonacci levels and trendlines provide critical zones to monitor for confirmation of the next move.
  • On the daily chart, RSI shows neutral momentum, leaving room for growth, while the 1-hour chart indicates building bullish momentum.

PEPE is well-positioned for an upward continuation if it maintains support at critical levels.

Both the daily and hourly analyses align for a bullish outlook, provided the momentum sustains above key Fibonacci levels.

PEPE Price Analysis

The daily chart illustrates the broader Elliott Wave structure, where PEPE has completed Waves 1–3, followed by a prolonged Wave 4 correction that appears to have ended near the 0.00001574 level.

This retracement aligns with the horizontal support zone and marks a potential pivot for the next upward phase.

PEPE price analysis
PEPEUSD wave 5 projected to target higher extensions | Credit: Nikola Lazic/TradingView 

Wave 5 is projected to target higher extensions, with the 0.618 Fibonacci extension at 0.000028983 being the first major resistance.

The daily Relative Strength Index (RSI) shows neutral momentum, neither overbought nor oversold, allowing for continued upward movement if buying pressure sustains.

A descending triangle during the corrective Wave 4 further strengthens the bullish outlook. Price has reached its resistance level, putting pressure on it and gearing up for a breakout. Sustaining this breakout confirms Wave 5 progression.

PEPE Price Prediction

On the 1-hour chart, PEPE has initiated a new impulsive wave structure, aligning with sub-Wave (i) of Wave 5.

The breakout from a descending trendline will indicate bullish strength, with the price currently testing support at 0.000018136 (0.5 Fibonacci retracement).

PEPE price prediction
PEPEUSD upward continuation possible | Credit: Nikola Lazic/TradingView 

The short-term wave count suggests Wave (i) completion near 0.00002055, with a likely retracement in Wave (ii) targeting support at 0.00001813.

Following this, Wave (iii) is projected to reach the 0.236 Fibonacci extension at 0.00002354, while Wave (v) could aim for the ultimate target near 0.00002837, coinciding with the daily chart’s Fibonacci extension.

The RSI on this time frame is trending upward, confirming bullish momentum, though a pullback during Wave (ii) may briefly relieve overbought conditions.

If the price holds above the 0.5 Fibonacci level, the impulsive structure remains intact, setting up a bullish continuation.

Key Levels to Watch

  • Immediate Resistance: 0.00002055 (0.382 Fibonacci retracement on the daily chart).
  • Major Resistance: 0.00002839 (0.618 Fibonacci extension, daily Wave 5 target).
  • Immediate Support: 0.00001855 (current 1-hour price pivot).
  • Critical Support: 0.00001813 (0.5 Fibonacci retracement).
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.
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Nikola Lazic

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. Expertise: Cryptocurrencies, Technical analysis, Elliott Wave Theory, On-chain metrics, Research reports.
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