$POL
anlys
## 1000PEPE/USDT Chart Analysis (4H, Binance)
### Overview
The chart displays the 1000PEPE/USDT perpetual contract on a 4-hour timeframe from Binance. The price action shows a significant breakout above a key resistance level, followed by a sharp upward movement.
### Key Technical Elements
- **Resistance Breakout:**
The red horizontal line marks a previous resistance zone that the price struggled to break. Recently, the price surged above this level, indicating strong bullish momentum.
- **Ascending Triangle Pattern:**
The green trendline below the price action forms an ascending triangle with the horizontal resistance. This is typically a bullish continuation pattern, suggesting accumulation before a breakout.
- **Measured Move Target:**
The green vertical arrow indicates the potential price target after the breakout, calculated by measuring the height of the triangle and projecting it upward from the breakout point. The target area is marked as approximately 0.0023966, representing a 22.91% move from the breakout.
### Price Action Insights
- **Retest Scenario:**
The curved black arrow suggests a possible price retest of the breakout zone (now acting as support) before resuming upward movement. This is a common occurrence after strong breakouts, providing a potential entry point for bulls.
- **Volume and Momentum:**
The sharp upward candles indicate strong buying interest. Sustained momentum above the previous resistance increases the probability of reaching the projected target.
###