- PEPE formed an HS pattern and the TD Sequential suggested a buy signal.
- A retest of $0.000001199 could be possible if PEPE flips $0.000001055.
- Higher highs on the MACD could trigger a rally to $0.00000280.
Technical analyst Ali Martinez posted on February 10 that Pepe (PEPE) has issued a buy signal on the 3-day timeframe. To make this conclusion, Martinez had formed a Head-and-Shoulder (HS) pattern on the said chart.
For context, an HS pattern appears when a set of three peaks and troughs is formed. Here, the peak at the center represents that head while the other two indicate the shoulder. From the chart Martinez shared, the pattern has signaled a bearish-to-bullish reversal for PEPE.
Indicators Hint at a Solid Rally
Another indicator that reinforced the prediction was the Tom DeMark (TD) Sequential. According to the analyst, the TD Sequential showed that the bearish trend had been exhausted and the time for a bullish reversal was here already.
If Martinez’s prediction comes to pass, then PEPE’s price might increase by 64.35%. Should this be the case, the token price could hit $0.00000280 in the short to mid-term.
In addition, this was not the first time the analyst predicted a jump in PEPE’s value. On January 11, Martinez opined that the meme coin might advance toward $0.0000016.
Coin Edition also discussed how PEPE’s recovery was near since bears were showing signs of exhaustion. Therefore, the buy signal predicted by the analyst aligned with what the outcome of our analysis suggested.
