- PEPE coin trades at $0.00001063 and must hold $0.000010 support to trigger a potential 230% rally to $0.00003047.
- On-chain data shows improved network activity with the NVT ratio surging 235% and sentiment turning positive after weeks of decline.
- The token faces a make-or-break moment where support failure could push prices to $0.00000600.
PEPE coin faces a pivotal moment as it trades near crucial support levels that could determine its next major price movement. Trading at $0.00001063, the meme coin hovers above weekly support at $0.000010, creating what analysts describe as a make-or-break scenario.
Pseudonymous analyst MMBTtrader has identified a critical chart formation that suggests significant upside potential. The current price action resembles previous patterns that preceded substantial rallies in the token’s trading history.
Technical Outlook Points to Substantial Upside
The analyst’s forecast presents a clear roadmap for potential gains. Initial resistance sits at $0.00001669, representing the first hurdle for bulls to overcome. A successful breakout above this level could trigger a retest scenario similar to previous bullish cycles.
Should momentum continue, the next target is $0.00002197, marking over 200% gains from current levels. The ultimate bullish target is $0.00003047, representing approximately 230% upside from the present trading range.
The key lies in PEPE’s ability to maintain support above $0.000010. This level serves as the foundation for the entire bullish thesis. A breakout and retest of the downtrend line would mirror the pattern that sparked previous extended climbs.
However, the analysis also acknowledges downside risks. Failure to hold the critical support could push PEPE toward $0.00000600, representing a significant correction from current levels.
PEPE/USDT Chart (Source: TradingView Community)
On-Chain Metrics Support Bullish Case
Network fundamentals provide additional backing for the optimistic outlook. Santiment data reveals a dramatic surge in the Network Value to Transactions (NVT) ratio, jumping from 40 to 134 within a day. This 235% increase indicates improved transactional value relative to the token’s market valuation.
The NVT spike often correlates with strong recoveries in leading meme coins. Higher transactional activity suggests increased network utilization and investor engagement.
Weighted sentiment metrics have also shifted positively, moving out of negative territory after weeks of bearish readings. This change reflects renewed confidence among market participants and traders.
Improving on-chain health and technical chart patterns creates a compelling case for upward movement. Both indicators suggest the network is experiencing healthier activity than in the earlier consolidation phases.
PEPE coin’s current position represents a decisive moment for its medium-term trajectory. Converging technical resistance levels and improving fundamental metrics create optimal conditions for a significant price move.
PEPE On-chain Data (Source: Santiment)
The $0.000010 support level remains the linchpin for the entire bullish scenario. Sustained trading above this threshold could unlock the multi-stage rally outlined by technical analysts.
Disclaimer
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