đ±đđPepe Coin Price Prediction as 20% Increase Seen in Rally After Correction
Pepe Coin Price Forecast: The crypto market has witnessed a Decient rise this week, reviving the bullish trend among market participants. Thus, the frog-themed memecoin Pepe is preparing to challenge the recent high of $ 0.00000175 by recovering from $ 0.00000122. Therefore, the potential surge will also complement the bullish reversal pattern called inverted head and shoulders, which indicates an early sign of a trend reversal.
The Bullish Trend Pattern Has Pushed the Price of PEPE Above $0.00002
A strong rebound from the $0.0000021 support reflects that the recent correction has restored the exhausted bullish momentum
at $0.0000017, the accumulation of technical obstacles can create a strong supply zone
The 24-hour trading volume on Pepe coin is $ 227 Million, which indicates a loss of 13%.
Over the past seven months, the Pepe coin price movement has largely moved sideways and encountered difficulties in maintaining a level above the $0.0000019 level. Analysis of the daily time frame chart reveals that this period of consolidation takes the form of an inverted head and shoulders pattern, a development that usually points to a potential bullish reversal.
This pattern suggests an increasing accumulation, probably by buyers who want to take advantage of what they perceive as the bottom value of the coin. In December, amid the uncertainties clouding the crypto market, Pepe coin experienced a slight decline and fell to $ 0.00000221. In particular, this pullback is seen as a component of the overarching ascension reversal pattern, forming what is known as the right shoulder of the inverted head and shoulder formation.
A significant entry into Pepe coin on December 22 accelerated a decisive break from the resistance trend that previously ruled the final correction phase. Driven by this model, the coin price is expected to rise by another 20%, targeting the neckline resistance of the pattern.
