PEPE Token Breakout! Following are the price predictions
2024-11-14
Bittime - The breakout of the PEPE token makes meme coin lovers even more determined to continue investing in the meme coin sector.
What are the predictions for the PEPE token in the future? Below is the complete price prediction.
Token PEPE Breakout
The chart on the weekly time frame shows that PEPE has been increasing following the support trend line which has been moving upwards since April.
In the last week, the PEPE token managed to bounce off the rising support trendline and horizontal support area at $0.0000085 (marked with a white icon), forming a bullish candlestick.
Read Also: How to Buy Pepe (PEPE)
The move also led to a breakout of the descending resistance trendline, confirming that a bullish trend reversal had begun.
Quoted from CCN, PEPE price is at the 0.618 Fibonacci retracement resistance level, which is measured from its all-time high.
This area is the last resistance before PEPE has a chance to move to a new high.
While technical indicators support the uptrend, the Relative Strength Index (RSI) has returned to the 50 line, and the Moving Average Convergence/Divergence (MACD) shows a bullish crossover (marked with a black circle).
PEPE Token Price Prediction
The most likely wave number prediction shows that PEPE is currently in the fifth wave, namely the final stage of the uptrend that started in May 2023.
The breakout of the long-term resistance trendline as well as the triangle formation confirmed that the price is entering the final phase of the uptrend.
If the calculations are correct, PEPE has the potential to reach a peak price of $0.000023, which is a 76% increase from its current position.
However, if this uptrend continues, this target is only a first step.
Read Also: 6.9 Trillion PEPE Tokens Burned
Assuming the fifth wave is the same length as the first wave, the next target could be $0.000044, or 220% higher than the current price.
Therefore, the wave count analysis is in line with the positive signal from the weekly time frame, indicating a potential new high for PEPE.
Final Note
In the context of the weekly time frame, PEPE price is showing several bullish indicators.
A breakout of the descending resistance trendline confirms the start of a new uptrend, while wave analysis projects a price increase of between 76% to 220%.
Read Also: PEPE Coin Price Prediction After Breakout
This is a review of the PEPE token breakout along with predictions for PEPE token prices in the future.
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