PEPE Breaks Out of Consolidation, Eyes $0.00002 Target

Pepe (PEPE) is once again in the spotlight as it approaches a critical breakout level, riding the coattails of Ethereum’s recent rally. While ETH has surged to new highs, PEPE has lagged, positioning itself as a potential high-beta catch-up play.

Now, multiple technical patterns suggest the asset may be on the edge of a major move. With Pepe currently trading at $0.0000136, analysts are turning increasingly bullish on its short-term and long-term price potential.

PEPE Key Breakout Levels to Watch

PEPE recently closed just above a key resistance zone near $0.00001385, indicating that buyers are regaining control. Lark Davis, a prominent analyst, highlights the significance of this level.

According to his analysis, the orange trendline marks a crucial breakout level, and a sustained move above it could unlock targets at $0.0000165, $0.00002, and even $0.000025.

Supporting this view, the daily chart shows a bullish alignment of exponential moving averages. The 20-day EMA currently leads the 50 and 200-day EMAs, reflecting strong upward momentum.

“Cup and Handle” Breakout Validates PEPE’s Bull Case

CryptoJack, another seasoned analyst, identifies a classic Cup and Handle pattern on PEPE’s daily chart. This pattern formed from February through May, followed by a consolidation in a falling channel. That “handle” phase recently resolved with a sharp breakout rising over 38% which adds conviction to the bullish outlook.

The projected target based on the cup’s depth places PEPE’s next price range around $0.000018 to $0.000020. This aligns with Lark Davis’ upper-level projections, reinforcing the possibility of further upside.

Notably, the current market cap of $5.72 billion and the strong trading volume reflect growing interest in the token.

PEPE/USD daily price chart, Source: TradingView

Moreover, trading volume is on the rise, adding further weight to the breakout. The MACD indicator supports this narrative. With the MACD line significantly above the signal line and the histogram expanding, buying pressure appears to be increasing.

Meanwhile, the RSI now sits at 71.17, slightly above the overbought threshold. While this suggests strong momentum, a short-term pause or pullback is possible.