【Cryptocurrency analysts unanimously agree: Pepe Coin price will soon soar to ATH】
Pepe Coin price is currently in a bear market, having fallen 23.3% from its peak earlier this year. However, experts predict it is poised for a rebound and to challenge historical highs.
Analyst Bluntz uses Elliott Wave analysis, believing Pepe has entered an ABC wave pattern and symmetrical triangle structure, nearing a convergence area, and is expected to experience a bullish breakout. Other experts like Dami-DeFi and Trader ELM share similar views.
From a fundamental perspective, Pepe, as a popular meme coin, often surpasses Shiba Inu in trading volume, with a 24-hour trading volume of $5.4 billion, while SHIB stands at only $1.9 billion. Meanwhile, Etherscan data shows large investors continue to accumulate, with one whale purchasing over $65 million worth of Pepe last week.
Technical analysis indicates that Pepe broke through the key resistance level of $0.00001721 on November 13 and formed a continuation signal for upward movement. The current price remains above the 50-day and 200-day moving averages, and a golden cross signal appeared in September, indicating strong bullish sentiment in the market.
Currently, Pepe's price forms a doji pattern, suggesting a potential market reversal. If the price breaks through the historical high of $0.00002595, it may further rise to $0.000030. However, if it falls below the support level of $0.000017, the price could retreat to $0.000012, testing the 50-day moving average support.
Overall, Pepe is expected to challenge new highs in the short term, but market trends and support levels still need to be monitored.
