PEPE has broken out of a symmetrical triangle pattern, signaling a potential bullish rally
Robinhood sold $15 million worth of PEPE but remains the second-largest holder with 3.67% of supply
Technical indicators show PEPE could reach $0.00001541 in the short term and potentially $0.00002836 longer term
The coin is currently trading at around $0.000014 with key resistance levels at $0.00001477 and $0.0000178
Market momentum is building in both spot and derivatives markets despite the large sell-off
Pepe coin (PEPE) has broken out from a multi-week symmetrical triangle pattern, marking what many analysts believe could be the beginning of a major price rally. This Ethereum-based meme coin is showing strong technical signals even as one of its largest holders recently sold off a substantial position.
The popular meme coin is currently trading at approximately $0.000014, representing an 8% increase over the past 24 hours.
Robinhood, one of PEPE’s largest holders, sold approximately $15 million worth of the token within the last day. Despite this sell-off, the exchange still controls 3.67% of the total PEPE supply, valued at around $209.9 million.
What’s particularly interesting about this development is that PEPE has maintained its price levels despite the large sell-off. Typically, when major holders liquidate positions of this size, some level of buyback follows, but that hasn’t happened in this case.
Technical analysis from multiple sources points to a bullish outlook for PEPE. On the 4-hour chart, the coin has been trading within a symmetrical triangle pattern with converging support and resistance levels.
This pattern suggests a potential 12.24% increase, which could push PEPE to around $0.00001541 in the short term.
Long-Term Potential
Looking at the daily timeframe, PEPE appears to be forming a cup-and-handle pattern. This formation is widely recognized as a bullish indicator, but for it to be validated, the price must break through the resistance level at $0.00001483.
If PEPE successfully breaks this resistance, analysts suggest it could rally by as much as 91%, potentially reaching $0.00002836. This price level was last seen in December 2024.
Key oscillator indicators are confirming the bullish thesis. According to TradingView data, the Momentum (10) and MACD Level (12, 26) are now showing buy signals on the daily chart.
For those considering entering positions, two key resistance levels to watch are $0.00001477 and $0.0000178. Should PEPE flip these levels to support, there’s a high probability it could form 10%-20% daily candles toward a new all-time high.
Some analysts are even more optimistic in their forecasts. Solberg Invest projects that PEPE could reach $0.000025, potentially as soon as the second quarter of this year.
In the derivatives market, the OI-weighted funding rate stands at 0.0127%, further confirming the presence of bullish sentiment among traders.
The spot market is also showing renewed buying interest, with approximately $335,000 worth of PEPE purchased recently, indicating growing momentum across both market segments.
Experts view PEPE as an excellent beta bet on Bitcoin and Ethereum, particularly for investors looking to make larger allocations within the meme coin market.
With Bitcoin recently breaching the $107,000 level and Ethereum pushing past $2,550, the outlook for ETH-based tokens like PEPE appears favorable.
The current price action comes as Bitcoin shows strong correlation with the Global M2 money supply, with projections suggesting BTC could reach $140,000 to $160,000 this year, while Ethereum could rally to $4,000 by year-end.
Market data shows that PEPE’s 4-hour RSI is successfully defending the 50 support level and trending upward, giving strong indications of a potential bullish continuation.
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.
