Will the PEPE price rally continue amid the broader market recovery to reach the $0.000021 mark?
With a bullish recovery in the crypto market, valuations have reached $3.5 trillion. As Bitcoin fluctuates near the $100,000 mark, the meme coin segment hit a market cap of $107 billion.
Among the top-performing coins, PEPE has secured its spot with a 24-hour rise of 6.67%. So, will the ongoing rally continue?
PEPE Price Analysis
On the 4-hour chart, PEPE’s price action reveals a bullish recovery within a symmetrical triangle pattern. The price has bounced off the local support trendline, reclaiming the 23.60% Fibonacci level at $0.00001739.
However, PEPE faced a bullish failure at a critical resistance confluence, which includes the 200-EMA line, the resistance trendline, and the 38.20% Fibonacci level at $0.00001921.
After retesting the 100-EMA line due to a bearish reversal, PEPE is now trading at $0.00001861. However, the bullish recovery within the pattern has led to a positive uptick in the 20-EMA line, signaling a potential bullish crossover.
The 4-hour RSI is approaching the upper boundary, further indicating bullish momentum.
Analyst Targets PEPE Price Run to $0.000021
Supporting the bullish chances in PEPE, crypto analyst Ali Martinez has highlighted a buying opportunity for PEPE in his recent post. Based on the TD Sequential Indicator triggering a buy signal on the daily chart, Martinez anticipates a rebound to $0.000021.
The chart shared by Martinez suggests a Double Bottom Reversal. With the current price trend, the recovery could lead to a surge to the 38.20% Fibonacci level at $0.00002190.
PEPE Price Targets
Based on the price action analysis, the triangle breakout rally could unleash a high-momentum rally. Using the Fibonacci level, the upside price target for PEPE meme coin stands at the 61.80% Fibonacci level at $0.0000225.
Conversely, the 23.60% Fibonacci level remains a crucial support at $0.000017393.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Source: https://thecryptobasic.com/2025/01/16/pepe-analysis-will-the-recovery-rally-break-0-000020/?utm_source=rss&utm_medium=rss&utm_campaign=pepe-analysis-will-the-recovery-rally-break-0-000020