DOGE and PEPE Ending Consolidation Phase With Bullish Signs Emergining

PEPE Price Analysis

The chart analysis for PEPE highlights a completed five-wave Elliott impulse, followed by a significant corrective phase. After reaching a Wave 5 peak of $0.0000284 on December 9, the price entered a downtrend, hitting a low of $0.000014 on December 20.

This movement briefly interacted with the 0.618 Fibonacci retracement level before rebounding above the 0.5 level, leaving a noticeable wick on the daily chart—subsequently, a horizontal range formed, indicating a consolidation phase after the sharp decline.

Key support is at $0.000017288 (0.5 Fibonacci retracement), aligning with previous consolidation zones. Resistance stands at $0.000020 (0.382 Fibonacci level), which is currently being tested. A breakout from this range will likely define the next price trend.

The Relative Strength Index (RSI) is trending upward, reflecting bullish momentum following today’s 13% price increase.

The 1-hour chart reveals a breakout from an ascending triangle, signaling the potential onset of a new impulsive wave. The price is currently testing resistance at the 0.5 Fibonacci extension level ($0.000019884), with further upside targets aligning with Fibonacci extensions.

Wave 1 and Wave 2 appear to have completed, with Wave iii in progress, targeting $0.000022 (1.0 Fibonacci extension) and $0.000025454 (1.618 extension). Immediate support levels are at $0.000019292 (0.382 Fibonacci level) and $0.000017882 (previous low), while resistance is at $0.000020472 (0.618 Fibonacci level).

If the breakout sustains, PEPE could rally toward $0.000027358 (2.0 Fibonacci extension) or higher. However, a failure to hold above $0.000019292 may lead to a retracement toward deeper support levels, invalidating the bullish outlook.

Key Levels to Watch

• Immediate Support: $0.000019292 (0.382 Fibonacci retracement).
• Critical Support: $0.000017882 (ascending triangle base) and $0.000017392.
• Immediate Resistance: $0.000019884 (0.5 Fibonacci level) and $0.000020472 (0.618 Fibonacci level).
• Breakout Targets: $0.000022375 (1.0 Fibonacci extension), $0.000025454 (1.618 extension), and $0.000027358 (2.0 extension).

DOGE Price Analysis

On the DOGE chart on the 1-hour timeframe, we can see an outlined Elliott Wave structure. The corrective Wave 4 has completed near $0.265 on December 20, followed by an ongoing consolidation.

This could be Wave (i)-(ii) that sets up for a potential impulsive move toward Wave 5. The price is consolidating near the 0.382 Fibonacci retracement level, with a breakout from the descending triangle indicating bullish momentum. The Relative Strenght Index (RSI) is climbing, reflecting improving buying pressure.

Critical support is located near $0.29 (0.5 Fibonacci retracement), acting as a strong foundation for further upward movement. The price currently faces resistance at $0.33 (0.382 Fibonacci level) whose breakout above this zone could trigger targets near $0.39 (0.236 Fibonacci level) and higher extensions.

According to the outlined scenario, this would be the continuation of a five-wave impulse, namely its Wave (iii). However, sustained bullish momentum depends on holding above immediate support.

Upside targets for the impulsive Wave (iii) include the $0.48 level, which would mean the price revisited its yearly high. The downside risks emerge if the price falls below $0.29. Traders should monitor Fibonacci retracement levels, breakout zones, and RSI trends for confirmation of the next directional move.

Alternative count presents a bearish scenario in which the recovery and consolidation since December 20 is the wave iv from the December 8 high of $0.48. If the price gets rejected a lower low of $0.24 for an interaction with the 0.618 Fib retracement will look more likely.

Key Levels to Watch

• Immediate support: $0.29 (0.5 Fibonacci retracement).
• Critical resistance: $0.33 (0.382 Fibonacci level).
• Breakout target: $0.39 (0.236 Fibonacci level).
• Upside potential: Wave (iii) could extend to $0.48.
• Downside risk: A drop below $0.29 invalidates the bullish setup.
• RSI trend: Momentum is turning bullish, signaling further upside potential.