A popular crypto strategist is predicting a bounce for one memecoin that posted big gains in a single month as he updates his outlook on Bitcoin (BTC) and two altcoins.
Pseudonymous analyst Altcoin Sherpa tells his 195,600 Twitter followers that Pepe (PEPE) will likely make a break to the upside after several more days of consolidation.
Using Fibonacci retracement levels, a method of technical analysis for determining an asset’s support and resistance levels, Sherpa believes Pepe will chop around a range with a top boundary of $0.00000184 and a lower boundary of $0.00000126 before a bounce.
“PEPE: Expecting chop between here and the .786 area and then a move higher eventually. I still am exposed to PEPE and will sell it higher.”
Source: Altcoin Sherpa/Twitter
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