Falling Wedge Pattern May Signal Strong Growth
After reaching its all-time high in December, Pepe Coin’s price dropped by over 70%, currently sitting at its lowest levels since November 5. Although the trend remains bearish, technical indicators suggest a potential reversal. A bullish falling wedge pattern and a shift in the MVRV-Z score into the buy zone indicate that Pepe Coin could experience a 245% surge.
Pepe Coin Approaches a Key Moment
As the third-largest meme coin, Pepe Coin has been under bearish pressure since its December high of $0.00002830. However, this decline has formed a falling wedge pattern, which is a bullish signal that often precedes strong rallies.
🔹 The falling wedge is characterized by two converging downward trendlines.
🔹 The upper trendline connects lower highs since December, while the lower trendline connects lower lows since November.
🔹 A breakout above these lines could signal strong price movement toward the all-time high of $0.00002830.
Since these lines are approaching a confluence point, Pepe Coin’s price could soon rebound and start an uptrend.
Additional Technical Indicators Suggest Growth
Besides the falling wedge, other key indicators support a bullish outlook:
📌 PPO Oscillator (Percent Price Oscillator) – has shown bullish divergence, a strong trend reversal signal. This indicator, derived from MACD, flashed a buy signal on February 13 and has been rising since.
📌 Relative Strength Index (RSI) – has been trending downward since November, but recently moved upward and broke a descending trendline, signaling bullish divergence.
MVRV Indicator Confirms Buying Opportunity
Another crucial indicator is the Market Value to Realized Value (MVRV), which has moved into the buy zone, signaling that Pepe Coin is relatively undervalued.
📊 Santiment data shows that MVRV-Z peaked at 2.74 in November, following a consistent downtrend as the coin’s price declined. It has now hit -0.576, a level last seen in February of last year—back then, Pepe Coin experienced a massive rally.
📊 The MVRV indicator is now supported by bullish divergence and the falling wedge pattern, increasing the likelihood of price growth.
Pepe Coin Price Targets: Will the Rally Happen?
Given these bullish signals, there is a high probability that Pepe Coin’s price could rise to $0.00002830, representing a 245% increase from current levels.
⚠️ This prediction would be invalidated if the price drops below $0.0000060, which was the August low. If this happens, Pepe Coin may face further declines.
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