The frog-themed memecoin $PEPE may be on the brink of a major rally, as strong technical indicators align for a potential breakout. After enduring a steep correction, PEPE appears to have completed a textbook ABC pattern on the weekly chart, bouncing precisely on a multi-year trendline known for triggering powerful bullish moves. A new #elliottwaves impulse seems to be unfolding.
Wave (iii) could propel the price toward the 0.786 Fibonacci retracement level at $0.000024, with a projected fifth wave potentially reaching $0.00002836 — a remarkable 180% gain from current levels.
Murrey Math Lines analysis supports this bullish case. #PEPE is hovering just above a key reversal zone, and breaking above $0.00011920 could open the path to higher resistance levels at $0.00014901 and beyond.
Adding fuel to the fire, futures open interest has surged past $540 million, signaling growing institutional and retail anticipation despite quiet price action. As long as the price holds above the $0.00000526 invalidation zone, the #bullish thesis remains intact.
For savvy traders watching the #memecoin🚀🚀🚀 space, PEPE may not just be a joke — it could be the next major opportunity.