PEPE, a memecoin, may undergo a significant rally of 54% if it closes outside of a specific price range, according to an analyst. The analyst observed that PEPE is currently forming a symmetrical triangle pattern on its one-day chart. The symmetrical triangle pattern is a technical analysis pattern where two lines of interest converge, indicating a consolidation phase. A break above the triangle could be a bullish signal, while a break below may be bearish. The closer the price gets to the apex of the triangle, the higher the probability of a breakout. The analyst highlighted a specific price range that, if broken, could result in a 54% move for PEPE. Currently, PEPE is trading around $0.000006868072, showing a 3% increase over the past week.
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PEPE Preparing For A 54% Move? Analyst Thinks So
