Pepe (PEPE) may be poised for a new ATH. Here's why:
2024-11-22

Following the channel breakout rally in PEPE price creating an ATH in November, the meme coin shows a post-retest rally. As the bull run restarts in PEPE, bulls anticipate the rally to create a new ATH next week.

In the daily chart of PEPE, the meme coin shows a bullish recovery, regaining momentum. The ongoing recovery trend started near the $0.000075 with a Morning Star pattern. 

This rally peaked at nearly 200%, nearly $0.000025. However, the falling channel breakout rally took a quick retest of the previous all-time high near the $0.000017223. 

The 10% surge last night, creating a bullish engulfing candle, ended the five-day consecutive red-candle streak. It also marked the post-retest bounce back for the meme coin. 

Currently, the bull run is extended with an intraday gain of 2.79% as the PEPE price trades at $0.00002126. 

Using the trend-based Fibonacci levels, the uptrend is approaching the 23.60% Fibonacci level at $0.00002303. Considering that the recovery run of the broader market will be prolonged, the PEPE price bull run is likely to reach $0.00002989 by the end of November. 

Hence, the PEPE price will explode with a massive upside of 40% in the next week. On the flip side, the $0.00001879 will likely provide bullish support. 