Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
History Repeats? PEPE’s Uptrend Shrugs Off Bigger Dips

History Repeats? PEPE’s Uptrend Shrugs Off Bigger Dips

CryptoNewsNetCryptoNewsNet2025/02/03 04:22
By:cryptonewsz.com

PEPE, the popular meme token, continues to demonstrate its resilience despite a sharp correction in recent weeks. Currently trading at $0.00001104, the cryptocurrency has experienced a 62% retracement, aligning with its long-term ascending trendline, which has historically acted as a strong support level.

This marks yet another intense pullback in its uptrend, following previous corrections of 63% and 66%, both of which were followed by explosive recoveries of +340% and +380%, respectively.

History Repeats? PEPE’s Uptrend Shrugs Off Bigger Dips image 0

Moreover, the daily chart highlights a consistent pattern of steep corrections, each serving as a precursor to robust rebounds. As the token hovers near the $0.000010-$0.0000078 support zone, traders are eyeing the potential for another recovery. If the trendline holds, PEPE cryptocurrency could target previous highs near $0.000028, with a new all-time high above the $0.000040 level in sight.

However, a break below this critical support zone could signal further downside, with the next support level near $0.0000060. Despite this risk, historical price action suggests that PEPE’s ability to bounce back from corrections remains a defining feature of its uptrend.

PEPE Price Prediction: Experts Eyes Major Breakout

Renowned market analyst CryptoJack has identified a compelling bullish wedge pattern on the PEPE/USDT daily chart. He notes that the token is consolidating within a vital support zone between $0.0000100 and $0.00001324, where buyers have historically shown strength. Consequently, CryptoJack’s analysis points to an anticipated breakout that could drive PEPE past its previous all-time high of $0.00002847, signaling a possible upside exceeding 155%.

А strong bullish wedge has formed. $PEPE looks very bullish. 🚀

did you buy $PEPE? pic.twitter.com/c6OI5zaSXT

— CryptoJack (@cryptojack) February 1, 2025

The analyst emphasizes the significance of this descending wedge, a classic reversal signal often seen before explosive price surges. Adding to the intrigue, crypto expert Max brings a fascinating historical comparison to light. He highlights a striking resemblance between PEPE’s current price structure in Q1 2025 and its chart from Q1 2024.

History Repeats? PEPE’s Uptrend Shrugs Off Bigger Dips image 1

Back then, PEPE carved out a similar descending wedge, breaking through horizontal support near $0.0000125, and rallied to achieve highs above $0.0000560. Max believes the present setup mirrors the conditions that triggered last year’s dramatic rally. He asserts that a decisive move above $0.00001550 could pave the way for another monumental breakout, replicating PEPE’s past meteoric rise.

Also Read: Cardano Breaks Below Key Support, ADA Risks Loss to $0.70

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!