The post Pepe Coin’s Bullish Signal: Is a 190% Rally on the Horizon? appeared on BitcoinEthereumNews.com.

Pepe Coin’s recent pullback may seem concerning, but historical patterns and rising whale interest hint at a potential comeback. While some analysts foresee a major rebound, with one chart pattern indicating a possible 190% surge, market conditions present key challenges that could stand in the way of a recovery. The Livermore Speculative Chart Signals a Potential Rebound A key argument for a bullish turnaround comes from the Livermore Speculative Chart (LSC), a classic technical pattern attributed to legendary trader Jesse Livermore. According to crypto analyst Daze, PEPE has reached the seventh phase of the pattern, which historically precedes a major price breakout. Livermore’s speculative chart. Source: Daze via X “If history repeats itself, Pepe Coin could see a significant recovery from its current lows,” Daze noted. However, he also warned that such a reversal could take time, as weekly chart formations typically play out over several weeks or months. The speculative pattern was detected on Pepe Coin’s weekly price chart. Source: Daze via X If PEPE follows this pattern, a rally to its previous all-time high of $0.00002830 would represent a 190% surge from its current levels. Still, this outlook comes with notable risks. Bearish Signals Persist: Head-and-Shoulders and Death Cross Patterns While the Livermore formation presents a compelling bullish case, PEPE’s daily chart paints a more cautious picture. The head-and-shoulders pattern formed by the meme coin is an infamous bearish reversal indicator that usually points to further downsides. The Pepe coin price has broken the critical support at $0.000010 following the head and shoulder pattern move. Source: JumpStartCrypto on TradingView Another critical concern is the formation of a “death cross” where the 50-day moving average falls below the 200-day moving average. This pattern often tends to indicate stubbornly bearish momentum, therefore leading one to believe that the price for…

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Filed under: News - @ February 8, 2025 4:22 pm