Pepe ($PEPE ) To Bounceback? This Bullish Fractal Setup Suggests It Might Be!
Ethereum’s($ETH ) pullback from $3,940 to $3,800 has sparked volatility, impacting memecoins like Pepe (PEPE), which dropped 9% today, reducing its monthly gain to 25%. Despite this, PEPE’s chart shows a bullish fractal pattern mirroring PENGU’s recent 172% rally.
Both tokens followed a similar path: breaking out of a falling wedge, reclaiming 50-day and 100-day moving averages, and consolidating between key support and resistance zones. PEPE is now in this consolidation phase, sitting above moving average support and testing resistance.
If PEPE breaks above the resistance zone, it could rally toward $0.000040, mimicking PENGU’s surge. However, a drop below $0.00001129 would invalidate the pattern, signaling further declines. Confirmation of a breakout is critical.