Crypto analyst Morja has revealed his PEPE price forecastreferring to the level the meme coin must hold to maintain its bullish momentum. Another crypto analyst painted a scenario where the meme coin replicates the parabolic run it recorded in 2023.
PEPE price could maintain bullish momentum if it sustains this level
In one X messageMorja stated that a weekly candle closing above the red level at $0.000005853 for the PEPE price would confirm a successful retest and the the bullish movement. He further noted that as long as the price remains above this level, upward continuation remains preferable.
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However, the analyst warned that on the way to $0.000010867, there is a key resistance around $0.0000083, which could act as a key reaction zone before further upside continuation. Meanwhile, crypto analyst StudyE has outlined a scenario where the PEPE price goes parabolic and replicates historic run of 2023.
The crypto analyst stated that this would happen if the PEPE price rose between January 15 and February 15. He further explained that the meme coin must be unfinished monthly candle in that time window to make it invalid. An invalidation would first send PEPE up, and then the bottom would be reached. If that doesn’t happen, there may be another hurdle to overcome.
StudyE stated that whatever path the PEPE price takes, it would lead to the same outcome and time frame. Based on this, he stated that the fourth quarter of this year will be parabolic no matter what happens. It’s worth mentioning that PEPE has been one of the best-performing crypto assets to start the new year, with the meme coin up more than 30% year-to-date (YTD) so far.
PEPE Eyes rise to $0.00000728 in the short term
Crypto analyst CryptoLinx has predicted that the PEPE prize could rise to $0.00000728 in the short term. The analyst noted that PEPE is currently breaking out of the downward channel and that the target for this pattern is a return to the previous high. This is a level the meme coin reached at the beginning of the year, when it rose by as much as 80%.
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Long-term crypto analyst Eco Nomad declared that the PEPE price will rise to $0.00001, which is the midpoint of the Gaussian channel. If the meme coin breaks through that level, it will be confident it can trade within four zeros, after removing one zero in the process.
At the time of writing, the PEPE price is trading around $0.000006670, up almost 14% in the last 24 hours, according to facts from CoinMarketCap.
Featured image from Freepik, chart from Tradingview.com