Analyst Eyes One More Pullback Before PEPE Price Surge

Key Highlights:

• Pepe (PEPE) shows prolonged consolidation phases with vigorous volume activity.
• Analysts highlight bullish setups supported by key technical indicators.
• Long-term holding trends show reduced speculation and rising stability.

PEPE price has recently displayed a clear trajectory of bullish momentum tempered by moderate volatility. Beginning around the $0.0000075 level, the token quickly climbed, reaching just under $0.0000097 before retracing slightly.

However, despite the short-term pullback, PEPE continues to form higher lows, signaling underlying strength. In the last 24 hours, the PEPE price has slipped 1.2%, showing a slight pullback.

However, broader trends highlight resilience with a 12.8% gain in seven days and a 17.8% rise over two weeks. These figures highlight a longer-term bullish context even as short-term fluctuations persist.

Analyst Projections Highlight Upcoming Moves

Recent analysis from the trader Altcoin Sherpa, posted on X, has pointed to a likely pullback before a strong upward move..

The 2-day candlestick chart on Binance shows PEPE in a prolonged consolidation phase. It remains within a tight range near $0.00001061, between key support and resistance levels. This zone has consistently acted as a pivot area, making it significant in recent price action.

Additionally, Altcoin Sherpa’s observations note two extended consolidation phases. The first consolidation lasted 47 candles or about 94 days. During that time, roughly 2,545.5 trillion PEPE tokens were traded.

The ongoing second consolidation has lasted 41 candles, spanning about 82 days. During this period, 1,959.96 trillion tokens have been exchanged, reflecting steady market activity.

The slight dip in traded volume indicates PEPE price is facing reduced liquidity. Market interest appears lower compared to earlier cycles.

However, the length of these consolidation phases remains consistent. This suggests PEPE tends to form stable bases before significant price movements.

Altcoin Sherpa emphasized that any strong upward momentum remains heavily dependent on Bitcoin’s performance.

Ongoing Support for Higher Prices

The analytic account Crypto Jobs provided further technical insight, identifying a bullish setup for PEPE price. The report shows the token is bullish on the daily chart.

Its price remains consistently supported by the Tenkan line, reinforcing upward momentum. Furthermore, the uptrend line supports prices on the hourly chart (H1). This reinforced the view of ongoing strength.

However, Crypto Jobs also pointed out a significant resistance zone to watch around the $0.00001050 level. This area represents a critical threshold where price reactions could become more pronounced.

According to their analysis, there is a possibility of a 15% to 20% PEPE price increase if current conditions persist. However, this expectation remains tied to prevailing market dynamics.

Besides, on-chain values as well are bullish, with metrics surging significantly. Active Addresses have risen by 11.56% while New Addresses have recorded a surge of 6.95%.

Furthermore, Zero Balance Addresses (ZBA) have increased by 9.45%. The shift in network traffic suggests a growing influx of new members. Rising transaction levels are often a strong indicator of an impending price increase.

Reduced Speculation and Greater Stability in PEPE

Beyond PEPE price trends and network growth, IntoTheBlock has provided more profound insights into investor behavior. These data points help assess market sentiment and potential future movements.

The “Balance by Time Held” graph shows a slight increase in long-term investors. Holders keeping the token for over a year have grown by 4.92%, indicating steady accumulation.

The number of Cruisers, mid-term PEPE holders, has grown steadily. Their holdings increased by 7.91%, reflecting rising confidence in the token.

The number of traders holding stocks for less than a month has dropped sharply. Their count has declined by 34.56%, signaling reduced speculative activity.

This shift suggests more stability in the market. A larger base of long-term investors could reinforce bullish momentum.

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.