Analyst Spots Bullish Setup On PEPE Coin, 0.00001400 Next?

Technical analysts note PEPE Coin price development after it established a well-defined “cup and handle” pattern. This serves as an indication for further upward movement.

More so, experts anticipate an imminent breakout because this particular pattern developed alongside rising trading volume during periods of market strength.

The setup indicates a potential rally in PEPE price if it clears key resistance levels, with projections pointing toward a price target of $0.00001400.

According to crypto market analyst James Wynn, who recently shared his chart analysis on social platform X, the coin is nearing the pattern’s neckline.

If broken, the move could initiate an upward surge, supported by heightened investor activity.

PEPE Coin Price Cup and Handle Formation

James Wynn’s analysis outlines the formation of a cup and handle on the PEPE/USDT chart, a structure typically recognized in technical analysis as a bullish continuation pattern.

The “cup” shape represents a period of gradual recovery and accumulation, following a prior downtrend.

It reflects a market scenario where early buyers accumulate an asset over time, gradually building momentum.

The “handle” part of the pattern follows this recovery and often involves a minor pullback or sideways consolidation.

This pattern reflects a short-term pause, where some traders exit for profit, and others prepare for potential continuation.

In PEPE’s case, this consolidation was forming just below the resistance level of $0.00001000. A breakout from the handle, especially if supported by strong trading volume, could confirm the bullish outlook.

Key Resistance Levels May Trigger Short-Term Volatility

Wynn identifies two major resistance levels that traders are currently observing: $0.00001000 and $0.00001050. The first level, $0.00001000, is considered a psychological barrier.

The second resistance level, $0.00001050, is both a technical barrier and a target area for short-term profit realization.

The analyst notes that should the price rise to this level, some volatility is expected as traders exit their positions, leading to a potential retracement.

Wynn refers to this zone as a “shakeout” area, where investors might sell amid uncertainty, before the price stabilizes and prepares for the next leg up.

Despite the potential for pullbacks, Wynn suggested that any dip following a test of these resistance levels could be short-lived.

He anticipates a recovery, with PEPE price returning to retest the $0.00001050 level from above, converting previous resistance into new support.

Retest and Breakout Confirmation

A successful breakout followed by a clean retest of the $0.00001050 level is a pivotal moment for the asset.

Wynn’s analysis labels this phase as a “re-entry” opportunity, where confirmation of support at the former resistance level could attract additional buyers.

Once this support is established, the technical setup favors a continuation of the bullish trend. The potential for a parabolic move becomes more likely as more investors respond to the breakout.

Such setups are often associated with rapid price rallies, especially in speculative assets like meme coins, where retail interest plays a large role.

PEPE Meme Coin Rally to 0.00001400

Should PEPE price maintain momentum following a confirmed breakout, the next target, according to the analyst, is $0.00001400.

Market experts project future range extensions, from cup and handle shapes to trader behavior based on FOMO, to generate this outlook.

At the time of writing, the top meme coin was trading near $0.000008835, reflecting a 3.19% intraday increase.

If present conditions persist and the technical pattern plays out as anticipated, PEPE could soon test and surpass key resistance zones.

More so, the analyst’s prediction aligns with a recent report that highlighted a $4.28 Million PEPE accumulation by five wallets linked to Tornado Cash.

This unusual activity triggered a price jump and increased speculation about a trend reversal. With PEPE targeting the 0.382 Fibonacci level at $0.000014, market momentum appears to be building rapidly.

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