PEPE Price Eyes 168% Moonshot Rally as Analyst Highlights Historical Fractal Pattern
NOIDA (CoinChapter.com) — Pepe coin (PEPE) price has seen heightened volatility recently, with the token reflecting uncertainty across the broader cryptocurrency market. As the US presidential elections draw closer, memecoins like PEPE could experience additional turbulence due to shifting market sentiment.
Meanwhile, an analyst highlighted a possible fractal pattern that could provide clues for PEPE’s next move, signaling a potential bullish breakout.
Analyst Sees PEPE Price Doing A Moonshot Bullrun
Independent crypto analyst Brett observed a historical fractal in PEPE’s price action that could signal potential bullish momentum ahead.
In the previous fractal, PEPE’s price moved through a series of lower highs before a breakout, a pattern that has repeated in recent weeks. The “break and retest” structure observed on the chart suggests a possibility for upward movement, similar to the March-May rally.
Analyst shared a post highlighting a bullish historical PEPE price fractal.
However, this bullish outlook remains dependent on key cues, including an uptick in volume and broader market stability. The general sentiment surrounding memecoins and external factors like the upcoming US elections could also impact whether this fractal-based prediction comes true.
For the prediction to materialize, Pepe coin price must break through critical resistance levels near $0.000012, with a potential target in the $0.000018-$0.000020 range, mirroring its previous fractal’s price trajectory.
However, failure to hold above key support levels could invalidate the bullish scenario, lowering the price. Factors like increased whale selling or declining engagement from the retail crowd could serve as bearish triggers.
Bullish Pattern Could Bolster Fractal’s Claims
Furthermore, the PEPE USD pair has formed a bullish technical pattern called the ‘falling wedge.’
The PEPE USD pair formed a bullish setup with a 168% upside target. Source: Tradingview
Two converging downward trendlines that connect lower highs and lower lows form the falling wedge, a bullish reversal. The narrowing structure shows that, despite the ongoing downtrend, the bearish momentum is gradually weakening, often preceding an upward breakout.
The key feature of a falling wedge is that the slope of the lower trendline is steeper than that of the upper trendline, indicating that selling pressure is dissipating. When the breakout occurs—typically upward—it signals buyers taking control.
To estimate the potential price target after a breakout, traders measure the vertical distance between the widest points of the wedge and project that range from the breakout point upwards. Increased trading volume during the breakout confirms the strength of the reversal, reinforcing market confidence and the likelihood of success.
According to technical analysis rules, the PEPE USD conversion rate might rally nearly 168% from its current level to reach the pattern’s projected target of around $31.
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