PEPE Jumps 22% During Market Recovery as Bulls Target Even More Upside

Key Takeaways

• Macro correction ended within the key accumulation zone.
• Wave 5 is in play with bullish momentum rising.
• Break above $0.0000108 confirms continuation bias.

Pepe (PEPE) has reclaimed key levels following a multi-month correction, validating the end of a WXYXZ structure and showing signs of resuming a new impulsive phase. 

With a clean five-wave count forming on the lower time frame, PEPE is gaining momentum again, targeting its next major Fibonacci resistance.

PEPE Price Analysis

The daily chart of PEPE confirms that a complex WXYXZ corrective structure concluded at the $0.0000057 level on April 7.

The level aligns with the green accumulation zone where the price found strong support, suggesting the final wave Z bottomed.

After this low, PEPE started forming a new impulsive structure.

It has since broken out from a descending channel pattern and reclaimed prior highs. 

Waves 1, 2, and 3 of this new cycle are likely already complete, with wave 4 having found support at $0.0000076.

PEPE is approaching the 0.236 Fib retracement ($0.0000108), which is acting as immediate resistance. It has risen 22.4% since its wave 4 ending point on May 6.

The daily Relative Strength Index (RSI) has returned above 60 and is pushing higher, supporting the bullish momentum thesis.

If PEPE can break and sustain above $0.0000108, it opens the path toward higher levels at $0.0000141 (0.382 Fib), $0.0000168 (0.5 Fib), and $0.0000195 (0.618 Fib).

A rejection at the 0.236 level could result in a short-term pullback, but the broader structure now favors bulls. 

As long as PEPE remains above $0.0000076, higher targets remain in play with macro upside potential toward the all-time high area at $0.000028.

PEPE Price Prediction

On the 1-hour chart, PEPE completed wave (ii) of a lower-degree impulse and is now advancing into wave (iii). 

The correction ended near $0.0000083 (0.236 Fib extension), and since then, the price has surged above $0.0000090 (0.5 Fib extension) with strong bullish candles and increasing RSI.

This move suggests the start of sub-wave (iii) targeting the $0.0000104 region (1.0 extension). 

Once that level is reached, we can expect a small wave (iv) retracement to $0.0000093 (0.618 extension), followed by a wave (v) push toward $0.0000111 (1.272) or even $0.0000121 (1.618), both being critical Fibonacci projection levels from the current impulse.

The 1-hour RSI is overbought territory, so traders should watch for divergence as the price nears $0.0000104–$0.0000111.

A temporary pullback would be healthy, allowing the structure to reset before continuation.

The bullish scenario remains valid as long as PEPE holds above $0.0000083. 

A breakdown below this level could delay or invalidate the impulse, possibly reintroducing price into the broader consolidation zone.

Given the completed macro correction and accelerating wave structure, PEPE is now well-positioned for a rally continuation, assuming short-term support levels are respected during retracements.

Key Levels to Watch

• Immediate Support: $0.0000083.
• Wave (iii) Target: $0.0000104.
• Wave (v) Targets: $0.0000111, $0.0000121.
• Macro Resistance: $0.000028 (ATH area).