PEPE Coin Price: Analyst Predicts Strong Uptrend After Breakout & Rebound

PEPE coin price recently broke out from a long downtrend. It may be poised for a trend reversal that could lead to major increases soon.

Many traders are optimistic about the breakout. They are aiming for higher prices as the meme coin tries to reach its previous record.

Pepe Coin Price Strong Support Zone Provides Stability

Notably, PEPE price broke out of a descending channel that had been limiting the price rise for weeks. Analyst CW pointed out that the price rose above this structure, implying that a key reversal pattern has formed and a major movement may follow.

Consequently, PEPE coin rose above its important $0.00000127 support, a zone that has often attracted buyers.

With a strong buying wall just below the current level, the bullish view is reinforced. The zone near this level has remained a powerful area for keeping the buying pressure, helping sustain the recent rise. As long as this support holds, the potential for further upside is intact.

Next Resistance Levels to Watch

Having broken out, PEPE coin price is now facing its next main challenge at the $0.0000018 resistance. As noted by technical analysis by CW, a major resistance is present in this zone, and PEPE has to pass through it to continue rising.

If this level is cleared, it could allow the price to rise even higher and reach targets such as $0.0000023 and $0.0000030.

Moreover, volume data suggested that buyers remain in control, as spikes in trading activity near key support levels indicate sustained interest.

If the trend of buying continues, PEPE could rise more over the coming days. However, failure to break through this resistance could lead to a period of consolidation, as traders reassess their positions.

Long-Term Outlook Points to Higher Gains

More so, CryptoELITES shared a chart indicating that a bullish continuation may happen, with the possibility of a strong 40x increase. The chart displayed a typical cup-and-handle formation, a familiar pattern that is often followed by a strong upward move.

Recently, PEPE coin’s price moved up from the lower line of the ascending channel, showing a confirmed low, and is now moving closer to the middle part of the channel.

This recovery corresponds to the Fibonacci level at 23.6%, indicating that bulls are still in control as the price climbs after a long downtrend.

With the meme coin trading at $0.00001348, the chart suggested the price could target $0.000256260,  a 4,074% rise. A series of higher lows suggested that buyers are supporting the price increase.

Once the handle breaks above the midline of the triangle, PEPE could surge and reach the impressive 40x target. However, a failure to clear this resistance could lead to short-term consolidation before a decisive breakout attempt.

Data from the PEPE derivatives showed that trading volume surged 37.08%, hitting roughly $1.70B, while open interest increased 26.53% to $591 million.

PEPE coin futures have a slight long bias, after significant liquidation and a 24-hour long-short ratio of 1.0429, showing that PEPE traded ~211K long and –2.12M short in the past 12 hours.

Meanwhile, recent analysis indicated that Pepe coin broke out of a falling wedge pattern, a classic bullish reversal setup. Moreover, whale behavior increased with 1.5 trillion PEPE withdrawn from exchanges, supporting an upward trend.

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