Pepecoin Price Analysis: Chart Pattern Sets $PEPE Price Rally to $0.0000175; Buy Now?

Pepepcoin Price Analysis: In the 4-hour time frame chart, the sideways trend in Pepecoin price shows pinpoints reversals from two converging trendlines which project the formation of a symmetrical triangle. The coin price respected this pattern despite the market’s high volatility, assuring its reliability for future prediction. Here’s how interested traders may grab long opportunities with this setup

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PEPE Price Daily Chart 

• A bullish breakout from the $0.000047 resistance sets the PEPE price for a 15% rise
• The support trendline of the symmetrical triangle pattern prevents Pepecoin from major downfall.
• The 24-hour trading volume in the Pepecoin coin is $132.5 Million, indicating an 18% loss.

Source-Tradingview

While the broader market sentiment remains in an unresolved state, the PEPE coin price broke out of its accumulation phase by flipping the immediate resistance of $0.00000147. The memecoin faced multiple rejections from this resistance in the last two days, before giving a decisive breakout.

The reclaimed resistance may act as potential support and trigger a recovery cycle within the triangle. The resulting rally could push the prices nearly 15% higher and hit the overhead resistance trendline near $0.00000175.

However, for Pepecoin to carry a sustained recovery rally, the buyers need a bullish breakout from pattern resistance trendline.

Will Pepecoin Price Rise to $0.00000175?

Over the last two days, the Pepecoin price was hovering sideways above the support trendline of the triangle pattern. This consolidation showed several failed attempts from sellers to break lower and also indicated the buyer’s aggression to protect his level. Therefore, a bullish reversal from the support trendline will likely drive the PEPE price to $0.00000175, with an in-between hurdle at $0.00000163.

• Exponential Moving Average: With the $0.00000147 resistance breakout the price also reclaimed the 20 EMA slope providing an extra edge to long traders.
• Directional Movement Index (DMI): A potential bullish crossover between the DI+(blue) and DI-(orange) slope will trigger a buy signal for interested market participants.