Pepe Coin (PEPE) is showing signs of stabilization after a steep 40% decline over the past month, raising speculation about a potential rebound. With the token now hovering at a crucial support level, analysts are eyeing a breakout to $0.21 if market conditions align.
Technical Analysis: PEPE’s Key Price Levels
Market analysts highlight that PEPE is currently consolidating at the lower boundary of its parallel trading channel. According to crypto expert Ali Martinez, this support level is critical, as maintaining it could pave the way for a move toward $0.000016 in the short term.
$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
If PEPE holds its ground, the next key resistance sits at $0.11, a threshold that could determine its next upward move. Breaking above this level could trigger a rally toward $0.21, aligning with Fibonacci retracement levels. Should bullish momentum persist, PEPE could even push toward $0.41, potentially setting a new all-time high.
However, failure to defend the current support could weaken bullish sentiment, leading to extended consolidation or a potential retest of lower levels.
Also Read: Solana (SOL) Tumbles 47% From ATH – Is the FTX Unlock the Final Blow?
Market Sentiment & Accumulation Trends
On-chain data suggests that PEPE’s accumulation phase may be concluding, indicating a possible transition to an upward trend. Historically, such accumulation periods have preceded significant price increases, hinting at a strong recovery if buy pressure increases.
Additionally, whale activity remains a key factor, with large holders continuing to accumulate, a bullish sign for the token’s future price action.
Impact of Bitcoin & Ethereum on PEPE’s Price
The broader crypto market, particularly Bitcoin (BTC) and Ethereum (ETH), will play a crucial role in PEPE’s next move. If BTC and ETH maintain their bullish momentum, it could lift sentiment across the altcoin market, boosting demand for PEPE.
For this breakout to materialize, PEPE must reclaim key resistance levels with increasing trading volume. If market conditions remain favorable, a surge to $0.21 and beyond could be on the horizon, marking a significant turnaround for the meme coin.
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 Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
