Analyst Predicts 78% Price Move for PEPE Amid Triangle Formation

An analyst predicts a potential 78% price move for Pepe based on a Symmetrical Triangle pattern in its daily chart.

Key Points:

  • The Symmetrical Triangle forms when an asset consolidates between two converging trendlines.
  • The upper line acts as resistance, while the lower provides support, confining the price within a narrowing range.
  • A breakout from this pattern can indicate a strong directional move, either bullish or bearish.
  • Pepe's price has been confined within this triangle since December and is nearing the apex, suggesting a breakout could occur soon.
  • If a breakout happens, the expected move may be up to 78%, based on the triangle's base length.

PEPE Symmetrical Triangle

Currently, Pepe is trading at $0.00001137, with a 9% increase over the past week.

PEPE Price Chart