#TradeWarEases PEPE Price Hits All-Time High as Bulls Confirm Breakout Rally Amid $3M in Shorts

Pepe (PEPE) price has risen nearly 10% today to $0.00001488, extending the 68% gain seen last week. The continued 87% gain suggests a further breakout of the bullish pattern this week. Additionally, PEPE’s price rally has shaken out $3.16 million in bearish positions over the past 24 hours, marking a strong bullish open for this Monday. Will this Pepe bounce record a new all-time high?

Pepe Price Analysis Targets Massive Breakout Rally

PEPE is trading at a market price of $0.00001453, last seen on January 31, after 100 days. The stronger return has surpassed the 200-day exponential moving average (EMA) and the 61.80% Fibonacci level at $0.00001426. This marks a key breakout as investors watch for a round bottom breakout on the Pepe technical chart.

PEPE price fell nearly 60% from $0.00001386 to $0.000005698 between February 1 and March 10. Having bottomed above the psychological demand zone of $0.0000050, Pepe’s price action forms a semi-circle formation called a round bottom pattern, with the neckline at the 61.80% Fibonacci level.

Currently, PEPE price is trading above the neckline, and a daily close above $0.00001426 would mark a decisive breakout, highlighting the potential for a 170% upside. The target is estimated by adding the depth of the semicircle to the breakout point, targeting $0.00003864. As such, the bullish breakout target of the pattern coincides with Coingape’s bullish PEPE coin price forecast.

The frog-themed meme coin is surpassing the 200-day EMA, influencing the 50- and 100-day EMAs to rise, hinting at a positive crossover. Additionally, the rising MACD and signal lines with a splash of green histograms reflect the increased trend momentum.

Based on a potential breakout of the 61.80% Fibonacci level, the correction tool targets the 100% level at $0.00002649, representing a 75% upside. A minor hurdle at the 78.60% level near $0.00001870 could prevent Pepe from .