PEPE Price Consolidation Forecasts 100% Rally If History Repeats

Pepe Price Poised for Breakout and Rally

Pepe's price has been consolidating steadily and is approaching the final stages of a potential breakout. This pattern resembles the price action witnessed between March and May, which culminated in a 121% rally.

Three-Stage Consolidation

The current consolidation phase for Pepe involves three distinct stages:

1. Accumulation: Institutional investors accumulate positions within a narrow range.
2. Manipulation: A sudden price drop triggers short selling, but a quick reversal traps these positions.
3. Pre-pump Consolidation: Consolidation occurs before the breakout and subsequent uptrend.

Breakout and Rally

The third stage lasted ten days for Pepe previously, leading to a breakout and 121% rally. The current consolidation follows a similar pattern.

At the time of writing, Pepe is in the third stage, trading at $0.0121. A breakout above the $0.0127 resistance level would signal the start of the rally. A daily candlestick close above $0.0133 would further confirm the trend reversal.

Target Levels

Potential targets for the rally include the 161.8% and 216.8% Fibonacci Extension Levels of $0.0198 and $0.0254, representing a 55% and 100% upside from the $0.0127 resistance level.

Supporting Indicators

IntoTheBlock's Global In/Out of the Money (GIOM) metric indicates no significant resistance beyond $0.0127. However, a breakdown below $0.0110 could put a large number of holders "Out of the Money," potentially triggering a sell-off and hindering the rally.