Will the PEPE Price Rally Continue Amid the Broader Market Recovery to Reach the $0.000021 Mark?

With a bullish recovery in the crypto market, valuations have reached $3.5 trillion. As Bitcoin fluctuates near the $100,000 mark, the meme coin segment hit a market cap of $107 billion.

Cryptocurrencies are a highly volatile and largely unregulated market. Any trader should conduct thorough research before making any trades.

The price of PEPE has surged by 6.67% in the past 24 hours and now trades at $0.00001861. This strong price performance comes as the broader crypto market recovers and pushes valuations to $3.5 trillion.

Bitcoin is now trading close to the crucial level of $100,000, while meme coins hit a combined market cap of $107 billion. Among the top performers is PEPE, which secured its spot with a 24-hour rise of 6.67%.

So, will the ongoing rally continue and lead PEPE price to $0.000021? Let’s find out.

PEPE Price Analysis: 4-Hour Chart

On the 4-hour chart, the price action of PEPE showcases a bullish recovery within a symmetrical triangle pattern. The price has bounced off the lower support trendline, reclaiming the 23.60% Fibonacci level at $0.00001739.

However, PEPE faced a bullish failure at a critical resistance confluence, which includes the 200-EMA line, the resistance trendline, and the 38.20% Fibonacci level at $0.00001921.

After retesting the 100-EMA line due to a bearish reversal, PEPE is now trading at $0.00001861. However, the bullish recovery within the pattern has led to a positive uptick in the 20-EMA line, signaling a potential bullish crossover.

The 4-hour RSI is approaching the upper boundary, further indicating bullish momentum.

Analyst Anticipates PEPE Price Run to $0.000021

In support of the bullish outlook for PEPE, crypto analyst Ali Martinez highlighted a buying opportunity for PEPE in his recent post.

According to Martinez, the TD Sequential Indicator triggered a buy signal on the daily chart, which could lead to a rally towards the 38.20% Fibonacci level at $0.000021.

The chart shared by Martinez showcases a Double Bottom Reversal, which, given the current price trend, could lead to a recovery and a surge to the 38.20% Fibonacci level at $0.00002190.

PEPE Price Targets

As per the price action analysis, the triangle breakout rally could lead to a high-momentum rally. Using the Fibonacci levels, the upside price target for the PEPE meme coin is the 61.80% Fibonacci level at $0.0000225.

On the other hand, the 23.60% Fibonacci level remains a crucial support at $0.000017393.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.