Analyst notes Pepe coin price is eyeing a 103.77% rally, targeting a new all-time high of $0.000028364 in the coming weeks.
According to markets expert @LLuciano_BTC, a notable fractal pattern emerged on the one-day chart that indicates if history rhymes, the price of PEPE could rally past previous highs. The bullish structure was accompanied by a 40% surge in derivatives trading volume, which saw them reach $2.4 billion.
Pepe Coin Price Eyes $0.000028364 ATH, Says Expert
As per a Pepe Coin price analysis by @LLuciano_BTC, PEPE is positioned for a potential rally towards its previous all-time high of $0.00002825, a move that could spark a 103.77% breakout to a new ATH at $0.000028364.
The meme token is currently trading just below a key resistance zone, consolidating within a broadening wedge. This bullish continuation pattern forms in trending markets and typically precedes sharp upward price expansions once the asset breaches the resistance.
For the aforementioned market structure, the upper boundary of the wedge lies near the $0.000017000 mark, acting as the immediate breakout level. A successful push above this threshold, notes the analyst, especially if supported by rising volume, could trigger a rally targeting the ATH set in December 2023.
According to the expert, the measured move for the breakout is derived from the wedge’s depth, projected upward from the breakout point to an upper target of $0.000028364.
If PEPE confirms this breakout, says the expert, the Ethereum-based meme coin will not only reclaim the previous ATH but also position itself for price discovery in the coming weeks.
PEPE Price Chart by LLuciano_BTC
PEPE Futures Trading Volume Rockets to $2.44B
Crypto futures data by Coinglass shows that derivative activity across PEPE markets has intensified in the last 24 hours. The data shows trading volume accelerated by 40% to reach $2.4 billion, while open interest increased by 16% to $600 million.
The increasing trading activity across the futures markets further complements the bullish and long-term Pepe Coin price forecast 2025-2030, suggesting that a new ATH could be in line thanks to the rising volumes.
Pepe Coin derivative volumes by Coinglass
Final Take
In conclusion, Pepe Coin (PEPE) price has great potential to rally to a new all-time high in the coming weeks if the technical market structure, outlined by the analyst, plays out as expected. Accelerating volumes across the derivatives markets suggest traders are accumulating PEPE and preparing for the next potential rally.
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William S. Berg
William S. Berg is a markets and business journalist at CoinGape, where he covers developments across the digital asset space. He has contributed to leading media outlets such as the Times of Malta and previously reported on business news as an assistant reporter for TVM.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
