With the TRUMP token up by +30% in two weeks, now it's the Pepe Coin's turn to make headlines. An intriguing technical setup hints at a potential surge of over 100%. Are these signals trustworthy? Full analysis of a possible rally ahead.
Technical indicators suggest that Pepe Coin is poised to take off towards new all-time highs. According to a renowned analyst, a bullish fractal structure, along with a significant increase in futures contract volumes, hints at a price surge of over 100% in the coming weeks.
Market analyst @LLuciano_BTC has identified the emergence of a bullish fractal pattern on the daily chart of Pepe Coin. This technical pattern suggests that if history repeats itself, the price of this altcoin could surpass its previous all-time highs.
This favourable market structure is also accompanied by a 40% increase in futures contract volume on this crypto, reaching $2.4 billion. This uptick in derivatives market activity suggests that traders are accumulating in anticipation of a potential new rally.
According to the analyst, the price of Pepe Coin is set to achieve a 103.77% surge, targeting a new all-time high at $0.000028364. This projection is derived from the depth of the wedge pattern in which PEPE’s price currently moves.
Source: Coinglass
If Pepe Coin manages to successfully break the resistance around $0.000017, it could trigger a rally towards this new ATH. Such momentum would not only reclaim the previous high but also pave the way for a price discovery phase for this memecoin based on Ethereum.
In conclusion, technical signals suggest that Pepe Coin is on the verge of achieving explosive performance in the coming weeks. If current trends hold, with an increasing volume of futures contracts, PEPE could reach unprecedented highs, offering great opportunities for savvy investors.
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