Crypto analyst Morja has revealed his PEPE price prediction, alluding to the level the meme coin must hold to sustain its bullish momentum. Another crypto analyst painted a scenario in which the meme coin replicates the parabolic run it recorded in 2023.
PEPE Price Could Sustain Bullish Momentum If It Holds This Level
In an X post, Morja stated that a weekly candle close above the red level at $0.000005853 for the PEPE price would confirm a successful retest and reinforce the bullish movement. He further remarked that as long as the price holds above this level, upside continuation remains favored.
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However, the analyst warned that on the way toward $0.000010867, a key resistance is located around $0.0000083, which may act as a significant reaction zone before any further upside continuation. Meanwhile, crypto analyst StudyE has painted a scenario in which the PEPE price goes parabolic, replicating its historic 2023 run.
The crypto analyst stated that this would happen if the PEPE price pumps into the January 15 to February 15 window. He further explained that the meme coin needs to be at the unfinished monthly candle in that time window in order to invalidate this. An invalidation would send PEPE higher first, and then the bottom would be in. If that doesn’t happen, it may have one more hurdle to overcome.
StudyE stated that no matter the path the PEPE price takes, it would lead to the same outcome and timeframe. Based on this, he declared that the fourth quarter of this year will be parabolic, regardless of what happens. It is worth mentioning that PEPE has been one of the best-performing crypto assets to start the new year, with the meme coin up over 30% year-to-date (YTD).
PEPE Eyes Rally To $0.00000728 In The Short Term
Crypto analyst CryptoLinx has predicted that the PEPE price could rally to $0.00000728 in the short term. The analyst noted that PEPE is breaking out of the downward channel right now and that the target for this pattern is a move back to the previous high. This is a level that the meme coin had reached at the beginning of the year, when it rallied by as much as 80%.
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In the long term, crypto analyst Eco Nomad stated that the PEPE price will rally to $0.00001, which is the midpoint of the Gaussian channel. If the meme coin breaks that level, he is confident that it could trade within the 4 zeros, having deleted one zero in the process.
At the time of writing, the PEPE price is trading at around $0.000006670, up almost 14% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Freepik, chart from Tradingview.com
