Pepe Coin (PEPE) Consolidates Below Resistance Ahead of Potential Breakout

Pepe Coin (PEPE) is currently trading around $0.00001400, consolidating just below a crucial resistance level at $0.00001409

Pepe Coin (PEPE) is currently consolidating around the $0.00001400 level,pivoting just below a crucial resistance at $0.00001409. This resistance level also aligns with the 38.2% Fibonacci retracement from the recent swing low to high.

Above this level lies the 50% Fibonacci,pivoting at $0.00001449,which could be the next resistance zone. A breakout above the 38.2% Fibonacci and 50-period Exponential Moving Average (EMA) at $0.00001383,pivoting at $0.00001409 could clear the path for a move toward the 50% Fibonacci.

However, rejection at this level might lead to a retest of the $0.00001352 support,pivoting at $0.00001409 and the lower boundary of the consolidation range.

Pepe Coin Fractal Pattern Points To 103.77% Surge

Market analyst @LLuciano_BTC has spotted a bullish fractal pattern on the one-day chart,suggesting that PEPE might be setting up for a 103.77% rally toward a new all-time high of $0.000028364.

This pattern,pointed out on X,involves a triple bullish fractal,which has emerged earlier in 2024 and signaled significant price surges for Pepe Coin.

"Three times now,we've seen this play out perfectly in 2024. At the start of January,when it bounced off the lows and went parabolic. Again,in March,when it formed a triangle and broke out. And now,once more,as it's setting up for a third leg in this broadening wedge," the analyst stated.

The upper boundary of the current broadening wedge pattern is at $0.000017000,which will be a crucial breakout point to watch. If PEPE manages to break above this level with strong trading volume,then a rapid rally could propel prices beyond December 2023's all-time high of $0.000