- $PEPE appears to be completing wave two on the Elliott wave structure
- Chart analysis forecasts wave three may begin if current support holds
- Current PEPE price is near $0.000003814 after wave two retracement
Pepe ($PEPE) is gaining renewed attention after chart data revealed a potential five-wave Elliott pattern forming on the weekly timeframe. As the token completes wave two, analysts are forecasting an upward movement into wave three.
Technical Setup Suggests Elliott Wave Continuation for $PEPE
The weekly $PEPE/USDT chart shows a classic five-wave Elliott pattern in progress. The token appears to have completed wave one and wave two. The pattern implies wave three could begin soon, which is often the strongest in an Elliott structure.
According to trader Steph_iscrypto, the price at $0.000003814 marks a potential pivot for the third wave. The analyst emphasized that the token’s structure remains valid while the recent low holds. The chart supports this view with clean wave labeling and momentum showing early signs of reversal.
This projection aligns with Elliott Wave Theory, a model that tracks crowd psychology in financial markets. It suggests that after a corrective wave, a strong impulse may follow. Many traders monitor these setups for potential breakout trades or trend continuations.
Market Reaction and Analyst Commentary Around $PEPE
The post gained traction as Steph_iscrypto shared, “$PEPE will create many fresh new millionaires in the next 3 months.” While this comment was optimistic, the underlying chart provides technical reasoning based on structure.
Volume and momentum indicators have not confirmed a breakout yet, but early accumulation signs are visible. Traders will likely watch the price action near the $0.0000038 level closely. If the token forms higher lows, it may strengthen the third wave thesis.
Long-term targets for wave five are not clearly outlined, though the model suggests gradual growth through 2026–2028. The setup relies heavily on price holding above the recent low formed in wave two.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
