Date: Thu, May 22, 2025 | 09:40 AM GMT
The cryptocurrency market has staged a solid comeback in recent weeks after a slow and bearish Q1. Bitcoin (BTC) hit a jaw-dropping new all-time high of $111,861, while Ethereum (ETH) surged 78% this month, lifting overall market sentiment — especially among memecoins like Pepe (PEPE).
PEPE has jumped more than 79% over the past 30 days, reclaiming bullish momentum. Now, a classic technical setup suggests the rally might just be getting started.
Testing a Classic Rounded Bottom Resistance
On the 4-hour chart, PEPE has formed a textbook rounded bottom — a well-known bullish reversal pattern that often marks the shift from downtrend to uptrend.
This formation began after PEPE was rejected from resistance around $0.00001510 on May 13, sparking a sharp correction of nearly 20%, taking it down to $0.00001237 by May 17.
Since then, PEPE has mounted an impressive 22% rebound, steadily climbing back toward that key resistance level. As of now, it’s trading at $0.00001458, just below the neckline. A breakout above $0.00001510 would validate the rounded bottom and potentially trigger a bullish continuation.
What’s Next for PEPE?
If PEPE manages to close decisively above the neckline at $0.00001510, the projected breakout target (based on the depth of the pattern) suggests a move toward $0.00001800 — a possible 23% upside from current levels.
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