PEPE Price Surge: Can the Bullish Flag Pattern Drive Prices to $0.000045?

With the crypto market approaching the $4 trillion market cap, meme coins are experiencing a surge. PEPE, among the top-performing meme coins, has risen nearly 7% over the past 24 hours.

Ranked as the 21st largest cryptocurrency, PEPE is edging toward a $10 billion market cap. Will the current bullish rally extend to new all-time highs? Let's explore.

PEPE Price Analysis

The 4-hour chart shows a sideways consolidation between $0.00001754 and $0.00002332. The consolidation forms two parallel trend lines, which align with the 0.00002360% Fibonacci level. This range creates a bullish flag pattern amid the ongoing bull run.

Currently trading at $0.00002205, PEPE is exhibiting bullish momentum with a higher price action in the 4-hour candle. The candle is attempting to break the resistance level through a rounding-bottom reversal.

PEPE Technicals and Price Targets

As the broader market improves, PEPE's short-term recovery has led to a bullish crossover in the MACD and signal lines. Additionally, dynamic support from the 50-EMA and 100-EMA lines increases the probability of a breakout rally.

The neckline of the rounding-bottom pattern corresponds with the 0.00002360% Fibonacci level. A bullish surge beyond $0.00002332 (23.60% Fibonacci level) could push PEPE past its current all-time high of $0.00002581.

Based on trend-based Fibonacci levels, potential upside targets include $0.00003208 and $0.00004530. In case of a bearish reversal, sideways movement may continue, supported by $0.00001754 (200-EMA line).

FAQs

• Can PEPE surpass its all-time high?

Breaking the $0.00002332 resistance level could lead to PEPE surpassing its previous all-time high of $0.00002581, with a target of $0.00003208.

• What is the key support level for PEPE?

The key support level is $0.00001754, corresponding to the 200-EMA line, which could prevent further downside.

• What are the upside targets for PEPE?

Trend-based Fibonacci levels suggest immediate upside targets of $0.00003208 and $0.00004530.