A widely followed crypto analyst is predicting a big bounce for memecoin Pepe (PEPE) as he updates his outlook on Ethereum (ETH) and Chainlink (LINK).
Pseudonymous trader Altcoin Sherpa tells his 196,100 Twitter followers that Pepe can rally more than 64% from its current value.
“PEPE: Wouldn’t be surprised to see this hit the .50 level before coming down again. Still think this will go back down lower, but I do believe that this one is here to stay (not as strong as before) given its history.”
Source: Altcoin Sherpa/Twitter
Sherpa uses Fibonacci retracement levels, a method of technical analysis for determining key levels for price targets, to predict Pepe could reclaim the 50% Fibonacci level at $0.00000234.
Pepe is trading for $0.00000142 at time of writing, up more than 2,400% from its low on April 18th of $0.0000000551.
Next, the trader says Ethereum may be headed below the $1,800 level if Bitcoin (BTC) dips.
“ETH: Probably low $1,800s if this current area gets lost (at a
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