Pepe Coin is forming a symmetrical triangle pattern with resistance near $0.00001250 and support at $0.00001050.
A confirmed breakout could send the price up by 99% with a projected target around $0.00002273 in coming sessions.
Holding above the support trendline will be key for sustaining bullish momentum and reaching the projected price goal.
Pepe (PEPE) traded at $0.00001157 after bouncing from a key support zone within a long-term symmetrical triangle structure. The chart outlines a potential breakout setup that could target a 99.21% price increase if confirmed. This move would project PEPE toward the $0.00002273 area, doubling its current valuation based on the measured move from the pattern.
https://twitter.com/TraderEthem/status/1955257244586520697 Long-Term Symmetrical Triangle Formation
The 4-hour PEPE/USDT chart from MEXC highlights a symmetrical triangle pattern defined by descending resistance and ascending support trendlines. This formation has been developing over several months, consolidating price action into a tighter range.
The upper resistance line has capped multiple rally attempts since the mid-cycle highs, while the ascending support line has consistently caught retracements. Price action has now approached the apex, where breakout decisions typically occur.
A successful breakout above the resistance trendline could trigger technical buying interest. Measured projections from the widest point of the triangle suggest potential gains nearing 99%, aligning with the $0.00002273 target zone.
Current Price Position and Breakout Implications
At $0.00001157, PEPE is trading just below the critical breakout threshold, with short-term resistance observed near $0.00001250. The market recently tested support along the ascending trendline, maintaining the integrity of the bullish setup.
A decisive move above the upper trendline would complete the symmetrical triangle breakout pattern. This would confirm bullish intent and signal the start of a larger upward leg.
The measured move calculation, based on the triangle’s height, supports a potential doubling of the current price. This projection offers a clear technical target for traders seeking medium-term opportunities.
Key Levels and Market Watchpoints
The primary breakout confirmation level remains at $0.00001250, while the $0.00001050 zone serves as near-term structural support. Holding above this support level is essential to prevent pattern invalidation.
If bullish momentum builds, interim resistance could emerge around $0.00001600 before the price attempts to reach the projected $0.00002273 target. The volume profile will be crucial in validating the breakout, as low participation could lead to a false move.
Market participants are asking a central question: will Pepe sustain enough momentum to achieve the projected 99% surge?
For now, the technical chart presents a clear scenario—maintain trendline support, break above resistance, and open the path to a near-doubling in value. With the symmetrical triangle nearing completion, PEPE traders will closely watch upcoming sessions for decisive action.
