PEPE consolidates in a symmetrical triangle, testing key support near $0.0000108–$0.0000115.
A breakout above $0.0000115 could target $0.0000130–$0.0000145, pending volume confirmation.
Derivatives data shows mixed sentiment, with OKX favoring longs and Binance leaning slightly short.
Pepe (PEPE) is currently trading near $0.0000112 and consolidating within a symmetrical triangle pattern on the daily chart. The asset is testing a key support area between $0.0000108 and $0.0000115. Market participants are watching closely for a breakout that could lead to a strong price movement.
Symmetrical Triangle Structure Indicates Imminent Move
According to analysis prepared by Token Talk, PEPE has formed a symmetrical triangle by making lower highs and higher lows. The price continues to hold within the converging trendlines, suggesting a coiling phase before a potential breakout.
On the current structure, the tight consolidation is evident with traders concentrating on the upper trend line of the triangle. A successful breakout above this resistance zone could push prices toward $0.0000130 and possibly $0.0000145. These targets align with resistance levels observed earlier in July. The pattern has held for more than ten sessions, increasing expectations for a decisive move.
The technical indicators indicate declining volatility and squeezed price action, which in many cases creates breakout conditions. Volume confirmation remains important, as a strong surge in volume would support any breakout above the triangle pattern.
Trading Activity and Support Levels Under Close Watch
As per data from Coingecko, PEPE's 24-hour trading volume is $958 million, reflecting sustained market interest. The current price range between $0.00001033 and $0.0000114 shows narrow movement, supporting the consolidation view. Market capitalization stands at $4.48 billion, with all tokens in circulation, indicating no supply inflation.
Derivatives data from Coinglass reports a 4.34% decline in open interest, totaling $598.82 million. Meanwhile, long/short ratio data shows a balance, with a slight tilt toward short positions. However, OKX has more long traders than shorts, suggesting different sentiment across exchanges.
A failure to hold support at $0.0000108 could shift focus to lower price zones. However, current technical and volume trends favor a potential upward breakout if buying pressure builds above the triangle boundary.
The post PEPE Holds Symmetrical Triangle Support, Analysts Watch for Breakout Toward $0.0000145 appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
