#pepe 💥🔥🧨

Will the PEPE price rally continue amid the broader market recovery to reach the $0.000021 mark?

With a bullish recovery in the crypto market, valuations have reached $3.5 trillion. As Bitcoin fluctuates near the $100,000 mark, the meme coin segment hit a market cap of $107 billion.

Among the top-performing coins, PEPE has secured its spot with a 24-hour rise of 6.67%. So, will the ongoing rally continue?

PEPE Price Analysis

On the 4-hour chart, PEPE’s price action reveals a bullish recovery within a symmetrical triangle pattern. The price has bounced off the local support trendline, reclaiming the 23.60% Fibonacci level at $0.00001739.

However, PEPE faced a bullish failure at a critical resistance confluence, which includes the 200-EMA line, the resistance trendline, and the 38.20% Fibonacci level at $0.00001921.

After retesting the 100-EMA line due to a bearish reversal, PEPE is now trading at $0.00001861. However, the bullish recovery within the pattern has led to a positive uptick in the 20-EMA line, signaling a potential bullish crossover.

The 4-hour RSI is approaching the upper boundary, further indicating bullish momentum.

Analyst Targets PEPE Price Run to $0.000021

Supporting the bullish chances in PEPE, crypto analyst Ali Martinez has highlighted a buying opportunity for PEPE in his recent post. Based on the TD Sequential Indicator triggering a buy signal on the daily chart, Martinez anticipates a rebound to $0.000021.

The chart shared by Martinez suggests a Double Bottom Reversal. With the current price trend, the recovery could lead to a surge to the 38.20% Fibonacci level at $0.00002190.