PEPE Price Forecast: Key Levels That Could Propel the Meme Coin Higher

In the latest updates from the crypto world, analyst Morja has shared insights into the potential price movement of the meme coin PEPE, outlining crucial levels that the coin must maintain to keep its upward momentum. Another analyst suggests that PEPE could mirror the explosive growth it experienced in 2023.

Key Takeaways

Support Level: For PEPE to maintain its bullish trend, it must stay above $0.000005853.
Resistance Level: A critical resistance is identified at around $0.0000083 before PEPE can target $0.000010867.
Parabolic Run: Analyst StudyE envisions a parabolic price trajectory similar to that of early 2023 if conditions align.
Short-Term Target: Analyst CryptoLinx forecasts a short-term rally to $0.00000728.
Current Status: PEPE is trading at approximately $0.000006670, reflecting a nearly 14% increase in the past 24 hours.

PEPE

PEPE Must Maintain This Level for Bullish Momentum

In a post on X, Morja emphasized that a weekly candle close above the critical level at $0.000005853 for PEPE would indicate a successful retest and reinforce its bullish trend. He affirmed that as long as the price remains above this level, continued upward movement is likely.

However, Morja cautions that the path to $0.000010867 will encounter significant resistance around $0.0000083, a crucial reaction zone before moving further upward. Meanwhile, crypto analyst StudyE outlines a scenario where PEPE could again experience parabolic growth, similar to its impressive performance in 2023.

PEPE
Source: Chart from Morja on X

StudyE believes that a price surge could occur if PEPE makes a move within the timeframe from January 15 to February 15. He pointed out that for a bullish scenario, PEPE needs to close at the unfinished monthly candle during this window. If conditions fail and an invalidation occurs, it could initially drive PEPE higher, with its true bottom soon to follow. StudyE asserts that regardless of the price path taken, it ultimately leads to a similar outcome in the fourth quarter of this year, predicting a parabolic run ahead. Notably, PEPE has started the new year strong, gaining over 30% year-to-date (YTD).

Short-Term PEPE Price Target of $0.00000728

Analyst CryptoLinx predicts that PEPE may rise to $0.00000728 in the near term. He highlights that PEPE is currently breaking out of a downward channel, targeting a return to previous highs, a level the coin reached earlier this year, achieving an impressive 80% rally.

In a more long-term perspective, analyst Eco Nomad projects a PEPE price increase to $0.00001, which lies at the midpoint of the Gaussian channel. He believes that if PEPE surpasses this level, there is potential for it to trade within a range that eliminates one of its zeros.

As of now, PEPE is trading at about $0.000006670, which reflects a nearly 14% increase over the last 24 hours, according to data from CoinMarketCap.

PEPE
PEPE trading at $0.0000066 on the 1D chart | Source: PEPEUSDT on Tradingview.com