PEPE: An Imminent Rebound ?
The cryptocurrency market is currently going through a volatile phase, after Ethereum (ETH) tested its multi-year resistance around $3,940 before retreating to $3,800. This decline has impacted major memecoins, with Pepe (PEPE) falling 9% today, reducing its monthly rebound to 25%.
However, as CoinsProbe indicates, a bullish fractal pattern is forming beneath this correction – an explosive breakout structure that strongly resembles the one recently observed on PENGU.
A side-by-side comparison of PEPE and PENGU daily charts reveals an almost identical trajectory. Like PENGU, PEPE has broken free from its descending wedge and reclaimed both its 50-day and 100-day moving averages.
The token is currently consolidating in the red resistance zone, resting just above the crucial moving average support – precisely where PENGU strengthened its position before its breakout spike.
Toward New Heights for PEPE ?
If this fractal pattern confirms, a rebound from current levels and a breakout above the red resistance zone could set the stage for PEPE’s next rally, with potential to reach $0.000040. Such progression would mirror PENGU’s 170% rally under similar conditions.
However, confirmation is key. A decisive move above the red zone is necessary to validate this pattern. To the downside, a fall below the moving average support at $0.00001129 would invalidate the pattern and signal additional weakness.
Despite its decline, PEPE has liquidated its uptrend line and displays a bullish divergence on its RSI. An imminent rebound appears likely. Before attempting to reach $0.000040, PEPE could encounter resistance in the $0.000020-25 zone in the coming weeks.
In conclusion, memecoins are experiencing a turbulent period, but PEPE’s bullish technical configuration could offer an interesting opportunity for investors. With significant rebound potential, savvy traders should closely monitor the evolution of this fractal pattern. As always, conduct your own research and exercise caution in your investment decisions.
How to Buy PEPE on Bitget ?
To try your luck with Ethereum’s iconic memecoin, here’s a simple guide to obtaining it now on Bitget :
- Sign up on Bitget : Create an account on Bitget via the official website or mobile app. Provide an email address or phone number, then complete identity verification (KYC) to access all features.
- Deposit funds : Once your account is activated, deposit funds in fiat currency (EUR, USD, etc.) via bank transfer or card, or transfer cryptocurrencies from another wallet.
- Access the PEPE market : Navigate to the trading section and select the PEPE/USDT pair. Bitget offers spot trading or leveraged options, depending on your strategy.
- Place a buy order : Choose a market order to buy immediately at the current price or a limit order to set a specific price. Confirm the transaction after verifying the amount.
On the same topic :
