Will $PEPE Reclaim $0.0000014 By Feb End?

Pepe Coin Price Prediction: Over the last two months, the frog-themed meme cryptocurrency PEPE has experienced a consistent decline on the daily chart. It fell nearly 50% from a high of $0.00000175 to a low of $0.00000086, significantly impacting investors. However, analysis of the technical charts reveals this downtrend as part of a key reversal pattern, suggesting a potential turnaround and opening up opportunities for buyers to make a comeback.

Also Read: Meme Coin Price Prediction: Future of Meme Coins Analyzed

Will PEPE Price Hold the $0.000001 Support?

According to a recent analysis by @alichart, $PEPE cryptocurrency is showing technical signs of an upcoming bullish trend on its 3-day chart. It’s forming the right shoulder of a head-and-shoulders pattern, and the TD Sequential indicator has issued a buy signal. 

This combination of factors suggests a potential upward momentum for $PEPE, making it a point of interest for traders and investors alike. The inverted head and shoulders pattern signals a bullish reversal at a downtrend’s end, featuring three troughs with the central one deepest. 

$PEPE is currently showing signs of forming the right shoulder of a head-and-shoulders pattern on its 3-day chart. Additionally, the TD Sequential indicator has issued a buy signal within this timeframe, suggesting an anticipated bullish impulse for #PEPE. pic.twitter.com/brSr7uln3z

— Ali (@ali_charts) February 10, 2024

Amid the renewed recovery in the crypto market, the PEPE price has surged from $0.00000086 to $0.00000102, registering a 16% weekly gain. If the pattern holds true, the Pepe price should rise to the neckline resistance at $0.00000162, resisting a potential gain of 55%.

Also Read: Crypto Prices Today: Bitcoin Crosses $47K, Ethereum At $2.5K, PEPE Recovers As Bonk Leads Rally

When Will PEPE Price Recovery Start?

In a deeper analysis of the Daily time frame chart, the ongoing correction in Pepe Price is resonating within the two converging trend lines of a falling wedge pattern. In theory, this chart pattern is another setup that hints at the maturity of a correction trend and the potential for higher recovery. Under favorable bullish conditions, the paper price should signal the start of a fresh recovery trend, providing new long-entry opportunities to traders.

Depending on the time of breakout, the PEPE price will need 2-3 weeks before reclaiming the $0.0000014 mark

• Bollinger band: An upswing in the lower boundary of the Bollinger band indicator provides additional support for PEPE buyers at $0.00000084.
• Moving Average Convergence Divergence: A bullish crossover state between the MACD and signal line, reflects an early sign of recovery from buyers.

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Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.