$PEPE Pepe (PEPE) To Rise Ahead? Key Patterns Signaling Potential Bounce Back

The cryptocurrency market is showing signs of a pullback following yesterday’s rally triggered by the U.S. CPI data release. Bitcoin (BTC) dropped from its 24-hour high of $110,384 to around $107,776 at the time of writing, applying downward pressure on major memecoins— including Pepe (PEPE).

PEPE is currently down by over 3%, but a closer analysis of the chart reveals that the asset may be gearing up for a potential bounceback

What’s Next for PEPE?

The combination of a falling wedge breakout retest and resilience at the 0.382 Fibonacci retracement level ($0.00001243) suggests that PEPE could be gearing up for a bounce.

If the current support holds, PEPE may resume its upward momentum, with potential upside targets at $0.00001400 and $0.00001632 — the latter representing nearly a 30% gain from the current price level.

However, a break below the 0.382 level could expose PEPE to a deeper pullback toward the 0.618 Fibonacci support near $0.00001166. Traders should keep a close eye on this key zone as a failure to hold could shift short-term momentum back in favor of the bears.

Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.