Highlights:

  • PEPE rose by 10% after last night's retest, ending a streak of five red candles and forming a bullish engulfing candle.

  • The recovery trend began at $0.000075, presenting a morning star pattern, with an upward trend target of $0.00002989.

  • PEPE's 40% upside potential aligns with the broader market recovery, with key support at $0.00001879.

Following PEPE's price breakout from the channel in November and reaching an all-time high, the meme coin has shown a rebound after retesting. With the PEPE bull market restarting, bulls expect a rebound to set new highs next week.

As one of the best-performing currencies, will PEPE explode next week to set new highs? Check out Coinpedia's latest article on PEPE for more information.

PEPE price performance

In the daily chart of PEPE, the meme coin shows a bullish recovery, regaining momentum. The sustained recovery trend began near $0.000075, presenting a morning star pattern.

This rebound's maximum increase is close to 200%, nearing $0.000025. However, the downward channel breakout quickly retested the previous historical high near $0.000017223.

Last night, it rose by 10%, forming a bullish engulfing candle, ending a streak of five consecutive red candles. This also marks a rebound for the meme token after retesting.

Currently, the bull market continues, with an intraday increase of 2.79%, and the PEPE price is $0.00002126.

How likely is a 10x rebound opportunity for PEPE?

Using trend-based Fibonacci levels, the upward trend is approaching the 23.60% Fibonacci level, which is $0.00002303. Considering the extended recovery cycle of the market, the PEPE price bull market is likely to reach $0.00002989 by the end of November.

Therefore, the PEPE price is expected to rise significantly by 40% next week. On the other hand, $0.00001879 may provide bullish support.