- PEPE has broken out of a long corrective wedge and is now consolidating, with bulls targeting new highs in wave (v).
- Key resistance levels at $0.00000960 and $0.00001026 will determine if the bullish trend continues.
After weeks of consolidation, PEPE is showing strong signs of preparing for its next major move upward. The meme coin, which recently broke out of a long-term descending wedge, is now trading sideways, setting the stage for what could be the next leg in its bullish trajectory.
Technical Outlook: Momentum Building
PEPE completed a rare WXYXZ corrective pattern, marking the end of a prolonged retracement phase. This was confirmed by a breakout from the wedge on the 4-hour chart, initiating a new impulsive structure. Currently, PEPE is forming a 5-wave upward sequence, typical of bullish reversals.
The latest correction appears to be wave (iv), which is bottoming out near the 0.786 Fibonacci level at $0.00000853. As long as PEPE holds above the critical support of $0.00000813, the bullish structure remains intact.
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Key Resistance Levels in Focus
The next targets for wave (v) lie between $0.00001026 and $0.00001096, based on Fibonacci extensions. However, before reaching those levels, PEPE must first break through resistance at $0.00000960, which aligns with wave (iii)’s peak. A strong breakout here, especially with increased trading volume, would confirm bullish continuation.
Currently, the price is consolidating just below the 0.236 Fibonacci retracement at $0.00000108. RSI levels remain supportive, showing no overbought divergence, which implies there’s room for further upside. If momentum continues to build, PEPE could target the golden ratio at $0.00000195, with a stretch goal at $0.00000233 (0.786 Fib).
Sentiment and Market Context
PEPE’s renewed bullishness coincides with growing interest in meme coins across the market. This broader trend could provide the fuel needed for the next breakout. However, a drop below $0.00000813 would invalidate the current bullish setup, suggesting a longer period of consolidation or a possible correction.
For now, technicals favor the bulls — and if history is any guide, PEPE may be poised to surprise with a strong finish to this wave cycle.
