While the PEPE Coin price has dropped by 10% at the time of writing, it has made significant gains over the past few days. What is the target level for PEPE Coin in March? As Bitcoin prepares for its monthly and daily close, it is above $61,100. Experts say that a close above $58,000 could be indicative of a larger peak to come. Thus, the rise in altcoins may continue.
PEPE Coin Commentary
PEPE Coin price has increased by approximately 206% in the last 5 days. The popular meme coin peaked at $0.00000361 and has since fallen by roughly 25%. However, this pullback is not very significant compared to the massive rally. Moreover, the rally that started after a long period of consolidation could reach new heights with the current BTC price outlook.
Weekly chart readings indicate that the PEPE Coin price has broken through a long-term resistance level from its ATH. A similar pattern is present in many altcoins, and as we remember from December, breaking such long-term resistances can trigger significant rallies.
The RSI on the weekly chart supports the resistance breakout.
PEPE Coin Price Prediction
So, what will the PEPE Coin price be in March? March has started according to Turkey time, and there is little time left for Bitcoin’s daily close. Daily chart readings, similar to the weekly ones, indicate a continuation of the uptrend. The Elliott Wave count for March suggests we are in the third wave of a five-wave upward movement.
Third waves tend to create impressive peaks. Now that the price has pulled back a bit, we have a peak target about 2.61 times the length of the first wave. PEPE has retraced to $0.00000270 support, and if it can hold and bounce from this support, it could race to the peak.
PEPE Coin is targeting a new ATH level of $0.0000050 according to the Elliott Wave count. However, it needs to close above the support levels for this to happen. If the bears succeed in pushing the price below $0.00000270, they could drive PEPE Coin down to $0.0000024 or lower.
