Analyst Says Watch This Level To Trigger 400% Move Toward $0.0001
Meme Coin Pepe Over the past few weeks, after a continued decline in the beginning of the year, the past few weeks have been close to the critical support level. Interestingly, a cryptocurrency analyst highlighted this price support Pepe’s success or failure levelwhich suggests that a breakthrough above the area could trigger a 400% rally toward $0.0001. This prospect is A particularly challenging week Throughout the crypto market, Pepe expanded its losses and dropped to its lowest price in a few months.
This level can trigger 400% movement of Pepe
Technical analysis shows that Pepe’s upward trajectory bounce Support is approximately $0.00000650. Using PEPE Weekly Candlestick’s timeline chart, a crypto analyst on the TradingView platform highlighted this interesting analysis.
Related Readings
This level of support plays a role in view of Pepe’s expansion decline Since the beginning of this year. Interestingly, technical analysis shows that the decline looks like a repetitive pattern of meme coins’ price action in 2024. The ongoing correction stems from the peak price of PEPE in December 2024 at $0.00002803, which analysts say is the third drive. It is worth noting that the first and second drives in 2024 are also accompanied by the post-rally correction phase.
Interestingly, the meme coin showed signs of life over the past 24 hours and pushed above this support level and climbed to $0.000007. However, uptrends cannot be defined yet, and crypto analysts point out that any uptrend depends on how PEPE reacts with the key resistance zone between $0.00001150 and $0.00001200.
This level has previously served as support, but has now become resistance. Therefore, the weekly approach above the region will confirm a bullish breakout and a potential trend reversal from bearish to bullish.
Price Target If Meme Coin exceeds resistance
A breakthrough above $0.00001200 will consolidate the breakthrough, while Pepe is more motivated. Such a breakthrough will mark the first bullish catalyst for some time, confirming momentum, and leading to increased pressure on the buying side with a positive upward movement. From here, the next resistance level is expected to be around $0.00001700 to $0.00002200. Transferring to $0.00002200, it will likely be more momentum above its current selling price of $0.00002803.
Related Readings
Analyst Further predictions The price target is $0.0001, providing bullish momentum to sustain itself. However, if the key resistance level of $0.00001200 is not exceeded, it may lead to a downtrend, while PEPE may retest the lower support band about $0.00000650 to $0.00000550.
At the time of writing, Pepe is trading at $0.000007239, up 4.4% over the past 24 hours. Pepe’s ability to maintain such an upward trajectory will depend on A broader market situation Used for Bitcoin and other large market capitalization cryptocurrencies.
Featured images from Adobe Stock, charts from TradingView.com
