Pepe Marks a New ATH; Here’s What Could Be Next for the PEPE Price Rally This Month – analysis by CoinPedia
With over a 10% jump in the last 24 hours, Pepe’s price has managed to rise beyond $0.00001 and form a new ATH at $0.00001128. This move has lifted the token among the top 25 cryptos, placing it in the 23rd position.
The PEPE price rally began in the last few days of February, which resulted in an upswing of over 850%. The consolidation, which followed within a descending parallel channel, formed a bullish flag pattern that triggered a breakout after reaching the apex. Currently, the price is in the middle of forming yet another bullish pattern, which may initiate another bull run, aiming to reach the upper targets above $0.00002.
PEPE is currently one of the strongest tokens in the crypto markets, as it has been breaking the upper barriers for the past few days. After reaching a new ATH, some may expect a negative outlook but in reality, the bulls are aiming to achieve fresh highs. As mentioned above, the price broke out of the bullish flag, and as a result, it is soring with a similar magnitude.
After breaking above the 1 FIB level at $0.00001056, the price is preparing for the next move but undergoing a minor pullback.
Meanwhile, the bulls do not appear to be exhausted and hence may continue ranging high to reach the 1.2 FIB at $0.00001312. However, RSI is about to enter the overbought levels, which suggests a continuation of an upward trend. On the other hand, the bulls continue to hold their tight grip over the rally, which has kept the bullish hopes alive.
Pepe has hit a $4 billion market cap without being listed on Coinbase or Robinhood. Besides, the memcoins are majorly outperforming the overall crypto market, with leading combined social and market activity. Therefore, a March-like upswing is expected, which may heavily impact the entire crypto market and help the Bitcoin price rise above the consolidation.
