The post How high can Pepe price get if Ethereum surges to $5,000? appeared on BitcoinEthereumNews.com.

Pepe coin has entered a bear market this year after plunging 65% from its all-time high. Pepe (PEPE), the second-biggest Ethereum (ETH) meme coin after Shiba Inu (SHIB), has plunged to the key support at $0.000010. While its decline aligns with the broader crypto sell-off, it is also influenced by Ethereum’s ongoing underperformance. Ethereum, the largest layer-1 blockchain, has lagged behind other major blockchains like Bitcoin and Solana. It has fallen by 5% over the past 12 months, while Bitcoin and Solana have surged by over 70%. Ethereum has also lost market share in several sectors, including decentralized finance, meme coins, and non-fungible tokens. This trend has impacted many Ethereum-based tokens, which have underperformed as investors shift their focus to assets within the Solana ecosystem. Ethereum is likely to surge to $4,000, as the coin has formed an ascending triangle pattern on the two-week chart. This pattern is characterized by a horizontal resistance level and a diagonal trendline composed of higher highs and higher lows. A strong bullish breakout will be confirmed if Ethereum surpasses the $4,000 resistance level. A sustained breakout above this price could increase the likelihood of Ether reaching $5,000 in the long term. Ethereum price chart | Source: crypto.news Pepe price technical analysis A strong Ethereum price breakout may also lift Pepe and other Ethereum-based tokens. The daily chart suggests that Pepe is positioning for a significant bullish breakout. Oscillators such as the Percentage Price Oscillator and the Relative Strength Index have started forming a bullish divergence pattern. This divergence occurs when these oscillators trend upward while the asset’s price remains in a downtrend. At the same time, Pepe is forming a bearish divergence pattern, which consists of two converging downward trendlines. These lines are approaching their confluence level, a point where bullish breakouts often occur.…

---

Filed under: News - @ February 21, 2025 8:26 pm