🔥Pepe (PEPE) Winks at the Bulls: Breakout Coming!🚀🐸
Ascending Triangle Pattern on Price Chart “A bullish pattern has formed for $PEPE #PEPE).
It is claimed that the memecoin launched on the Ethereum blockchain will hit an all-time high (ATH).
AMBCrypto, who said, “PEPE is accumulating from both whales and individual capital and waiting for a surge,” stated that PEPE could rise to 0.00001725 in the future.
Bells are ringing for Pepe (PEPE) A bullish signal is coming from PEPE, which is up 16.11 percent on the weekly chart. If PEPE breaks the current ascending triangle pattern, a new record could be broken.
According to the analysis, a symmetrical triangle has been formed with price levels acting as a resistance and support system. PEPE, which recently rallied from the support at $0.00000701, has reached the upper resistance of the triangle pattern at $0.00000876. The resistance point in question has aligned with a potential trendline resistance.
The symmetrical triangle formation, which indicates a potential upside, has reached a continuation of the breakout, while the selling pressure has also decreased. The analysis interprets the formation as follows;
“A breakout above the upper resistance line is required. A successful break above this level could completely lift memecoin to the 2024 high of 0.00001725 or to the intermediate target of 0.00001307.” The analysis suggests that PEPE could decline if the resistance level in question fails to break and its support level at 0.00000701 is crucial.
In the Relative Strength Index (RSI) analysis, it was stated that it would support the noted bullish trend. It refers to the bullish trend used in the analysis.
“Currently, the RSI is showing a bullish price with a value of 56.75 and it looks like the price can be tracked this way. Resistance levels in the RSI often precede potential increases in the asset price.”
