Pepe Coin (PEPE) is showing early signs of a possible recovery after enduring significant losses over the past month. The meme coin, which has been on a downward trajectory, plunged 40% in the last 30 days and an additional 4% over the past week. However, with PEPE holding a critical support level, analysts suggest a rebound could be on the horizon.
PEPE Technical Analysis: Key Levels to Watch
Market analysts indicate that PEPE is currently hovering near the lower boundary of its parallel trading channel. Crypto expert Ali Martinez highlighted that maintaining this support could set the stage for a recovery, with an initial price target of $0.000016.
$PEPE is holding above the lower boundary of this parallel channel. If support holds, a rebound to $0.000016 could be next! pic.twitter.com/H7TGwX9jpc
— Ali (@ali_charts) February 23, 2025
Should PEPE sustain its support and regain bullish momentum, analysts predict a potential price surge between $0.08 and $0.11. The next major resistance level stands at $0.11, which could serve as a key inflection point for further gains. A breakout above this level may propel the coin toward $0.21, a crucial Fibonacci retracement zone.
If bullish sentiment continues and PEPE surpasses $0.21, the token could enter a strong upward rally, with a potential target of $0.41—marking a new all-time high (ATH). However, failure to hold support may lead to prolonged consolidation, dampening hopes of a swift recovery.
Market Sentiment & Broader Crypto Trends
On-chain metrics suggest that PEPE is in an accumulation phase, with potential price manipulation preceding a broader distribution phase. Historically, such setups have triggered significant price increases, making this a crucial moment for investors.
The broader market conditions, particularly Bitcoin (BTC) and Ethereum (ETH), will play a pivotal role in determining PEPE’s next move. If BTC and ETH maintain their current uptrend, PEPE could benefit from renewed investor confidence, fueling its bullish outlook. However, for a sustained rally to take place, PEPE must reclaim key resistance levels with strong trading volume confirmation.
Also Read: PEPE Price at Critical Crossroads: Breakout Rally or Further Decline?
With speculation mounting, traders will be closely monitoring whether PEPE can capitalize on its support zone and stage a strong recovery in the coming weeks.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
