PEPE's 40% Surge Driven by Bearish ABCD Pattern Points to 48% Potential Upside

Pepe (PEPE) has emerged as a focal point for cryptocurrency traders following the identification of a key harmonic pattern on its price chart, suggesting a potential upward trajectory. The broader market, driven by Ethereum’s (ETH) 62% surge over the past 30 days, has created a bullish environment for memecoins, with PEPE posting a 40% monthly gain. Technical analysts highlight the Bearish ABCD harmonic pattern forming on PEPE’s daily chart, which, despite its name, often signals a strong bullish continuation after a retracement phase. The pattern began in March at $0.00000525, surged to a peak, retraced to $0.00000831 by late June, and has since climbed to $0.00001305. The CD leg of the pattern is currently in motion, with the Fibonacci 1.378 extension of the BC leg projecting a potential target of $0.00001936 as the Potential Reversal Zone (PRZ) [1].

The projected PRZ implies an additional 48% upside from PEPE’s current price, though analysts caution that this level will act as a critical resistance zone. Traders are advised to monitor for profit-taking or short-term pullbacks if the price approaches this threshold. The 200-day moving average at $0.00001055 remains a key support level, and as long as PEPE stays above it, the bullish structure remains intact. However, market participants are urged to exercise caution, as harmonic patterns in volatile assets like memecoins are often subject to rapid reversals due to their speculative nature [1].

While the CoinMarketCap article does not explicitly name an analyst for the pattern identification, it references the broader technical framework used in trading. The analysis aligns with standard harmonic pattern methodologies, which rely on Fibonacci ratios to predict price movements. Separately, unrelated discussions in other sources—such as a Binance post about the butterfly pattern for GRASS and a CoinMarketCap entry on Injective (INJ)—do not directly apply to PEPE [2]. Analysts note that while harmonic patterns are widely used, their reliability in low-liquidity assets like PEPE remains debated, emphasizing the need for cross-verification with other indicators.

The article concludes with a disclaimer underscoring that the information is for educational purposes and not investment advice, advising readers to conduct independent research before trading. The broader market context remains uncertain, with tools like TradingView and CoinMarketCap offering price-tracking services but not issuing specific forecasts. As PEPE’s price action unfolds, traders will likely focus on key levels to assess the validity of the harmonic pattern and its implications for the token’s short-term trajectory.

Sources:

[1] [Pepe (PEPE) To Soar Further? Key Harmonic Pattern Signals Potential Upside Move](https://coinmarketcap.com/community/articles/68871be37d09482711f186be/)

[2] [Binance - GRASS to USD Live Price, Market Cap & Chart](https://www.binance.com/en-IN/price/grass), [CoinMarketCap - GMT naar EUR grafiek](https://coinmarketcap.com/nl/currencies/green-metaverse-token/)