- PEPE’s Wave 4 correction appears complete, with Wave 5 targeting a key resistance at 0.00002898, supported by bullish momentum.
- Short-term analysis shows a new impulsive wave forming, with Wave (iii) projected to hit 0.00002354 and Wave (v) aiming for 0.00002837.
- Key support levels at 0.00001813 and resistance at 0.00002055 will determine if the bullish structure continues to hold.
PEPE seems primed for an upward trajectory, provided it holds above critical support levels and maintains bullish momentum.
Broader Analysis and Wave Structure
PEPE’s daily chart highlights its broader Elliott Wave pattern, suggesting Wave 4 correction has ended near the 0.00001574 mark. This zone, a key Fibonacci support, aligns with horizontal support, setting the stage for a potential Wave 5 breakout.
Wave 5 is forecasted to target the 0.618 Fibonacci extension at 0.00002898 as the first major resistance. The RSI, sitting in neutral territory, supports a scenario for continued bullish movement.
The descending triangle formed during Wave 4 has now pushed prices to resistance, signaling a likely breakout. Sustaining this push confirms progression into Wave 5.
Short-Term Prediction
On the 1-hour chart, a new impulsive wave structure has emerged, aligning with sub-Wave (i) of Wave 5. The breakout from a descending trendline reflects increasing bullish strength, with the price currently testing a crucial support zone at 0.00001813.
- Wave (i): Completed near 0.00002055, signaling potential resistance.
- Wave (ii): Retracement expected near the 0.00001813 support level.
- Wave (iii): Likely to test 0.00002354 at the 0.236 Fibonacci extension.
- Wave (v): Final target near 0.00002837 aligns with the daily chart projections.
Key Levels to Monitor
- Immediate Resistance: 0.00002055 (0.382 Fibonacci retracement).
- Major Resistance: 0.00002839 (daily Wave 5 target).
- Immediate Support: 0.00001855 (1-hour pivot).
- Critical Support: 0.00001813 (0.5 Fibonacci retracement).
If PEPE holds above its 0.5 Fibonacci level, the bullish wave structure remains intact, signaling strong upward potential.
