PEPE’s price chart is flashing bold signals that a major comeback could be brewing. After weathering a sharp correction, the memecoin appears to be setting the stage for a powerful new rally, mapped out clearly through an emerging Elliott Wave pattern.
The weekly chart shows that the token recently completed a classic ABC corrective wave, bottoming out along a key multi-year trendline that has historically acted as a launchpad for bullish moves. From there, a fresh five-wave impulse is in motion. The first wave (i) has already unfolded, followed by a healthy dip (ii), and now all eyes are on the next big leg up.
PEPE Price Chart (Source: TradingView)
If this wave count holds, PEPE could climb to the 0.786 Fibonacci level near 0.000024 before a slight pullback (iv) clears the runway for a final wave (v) targeting a high around 0.00002836. That’s nearly a 180% increase from its current price of around 0.00000993.
Crucially, the support line that the frog-themed meme coin just bounced from has held strong for over a year, giving confidence to this bullish structure. As long as the price stays above the 0.00000526 “invalidation area,” the upside scenario remains in play.
PEPE Price Balances at Major Turning Point
The latest Murrey Math Lines chart reveals a critical juncture in PEPE’s price structure, adding further strength to its bullish outlook. Based on this indicator, the token is perched right above a critical zone known as the “bottom of the trading range” at 0.00008940—a level often associated with trend reversals and fresh momentum.
If the cryptocurrency can lift above the next key marker at 0.00011920, it could unlock a path toward higher resistance zones. Think of it like climbing a staircase: 0.00014901 marks the next step, with the ultimate ceiling standing tall at 0.00023841. That’s the level labeled “Ultimate Resistance,” and it’s where the real fireworks could begin.
PEPE Price Chart (Source: TradingView)
But the climb isn’t guaranteed. A slip below 0.00005256 would send a strong bearish signal, potentially pulling the cryptocurrency back into oversold territory. Until then, this zone acts as the floor traders are betting won’t break.
Volatility Brews Beneath PEPE’s Calm Chart
The calm before the storm? Backing the technical setup is PEPE’s futures market, which is buzzing beneath the surface. According to CoinGlass data, the token’s open interest has swelled to over $540 million—its highest level in months—despite price action staying relatively muted.
PEPE Futures Open Interest (Source: CoinGlass)
This accumulation of money is a bullish indication of traders quietly positioning themselves for the next blowout. This type of escalation rarely comes with a peaceful end. In the past, an increase in open interest in a situation when prices are in consolidation caused significant volatility.
Just as one would coil a spring: the tighter the coil, the snappier the spring. Be it a breakout or a fake-out, the market is obviously getting strapped. The new question is not whether PEPE will go, but when.
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