- PEPE forms an inverse head-and-shoulders, signaling a bullish breakout if it surpasses the $0.00000750 resistance level.
- Whale accumulation and ETH momentum boost confidence, reinforcing potential upward movement for PEPE.
- Repeated resistance tests suggest weakening barriers—higher volume could trigger a breakout toward $0.00001050.
According to analyst Ali, Pepe is showing an inverse head-and-shoulders pattern. Just below a crucial resistance level of $0.00000750, the price is presently trading at $0.00000686. A breakout might cause the price to spike up to $0.00001050.
Coinbase’s one-hour price action exhibits an inverse head-and-shoulders pattern straight out of a textbook. The left shoulder formed first with a higher low, and then the head formed with a dip. The price later rebounded, creating the right shoulder with another higher low. This pattern suggests growing bullish momentum.
Resistance at $0.00000750 Holds Key to Breakout
The neckline resistance at $0.00000750 remains a crucial level for confirmation. Buyers have attempted to breach this level, but rejection occurred earlier. However, the price has consolidated near the resistance, supporting the potential for an imminent breakout.
Moreover, higher lows indicate increasing demand. If buyers take control and push past resistance, the breakout could materialize quickly. The measured move calculation suggests a target of $0.00001050.
Whale Accumulation and ETH Momentum
According to Dylan, large investors are accumulating PEPE as the price gradually trends higher. Accumulation signals confidence in a bullish breakout. A four-hour timeframe analysis on OKX also confirms the inverse head-and-shoulders pattern, mirroring Coinbase’s chart structure.
Besides, Ethereum’s movement plays a crucial role in PEPE’s trajectory. If ETH gains bullish momentum, PEPE could benefit. The correlation between PEPE and ETH suggests that a strong ETH rally may accelerate PEPE’s breakout.
The neckline resistance at $0.00000740 on OKX aligns closely with Coinbase’s level. The market has tested this area multiple times without a decisive breakout. However, repeated tests suggest weakening resistance. If volume increases and buyers sustain pressure, PEPE may surge past resistance soon.
