3 Reasons Why PEPE Price Will Rally 25% This Weekend

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As a seasoned analyst with years of experience under my belt, I have seen countless crypto rallies and bear markets. However, the recent surge of Pepe Coin (PEPE) has caught my attention. The breakout rally we are witnessing is reminiscent of a bull in a china shop, knocking down everything in its path towards a new all-time high (ATH).

The current price surge for Pepe Coin (PEPE) indicates it may have exceeded the upper boundary of its ongoing consolidation phase, implying a potential imminent bullish trend. If the positive momentum persists, PEPE has the potential to skyrocket by double digits and create a new record high (personal best).

Pepe Price Techncial Analysis: 25% Breakout Rally Likely

Following a 105% surge in the second week of November, Pepe’s price action has been sideways, forming lower highs and roughly equivalent lows. Over the last ten hours, the value of PEPE has surged by 18%, breaking free from the trend line connecting these lower highs. This descending triangle pattern with a bullish breakout suggests a potential 25% price increase.

By combining the triangle’s peak with the breakdown point at 0.0000287, we arrive at a projected price level of 0.0000264. Therefore, it seems that PEPE investors might anticipate a potential 25% increase in value.

The positive trend for PEPE appears to be strengthening, given the rise in its 50-day Exponential Moving Average (EMA). This upward movement indicates that the momentum is moving towards an increase and keeps the short-term average above the long-term average of 200 days. As this pattern persists, investors can anticipate a successful breakout.

Moreover, the Relative Strength Index (RSI) is approaching overbought territory, suggesting that the upward trend is dominant. Meanwhile, the Average Directional Movement Index (ADO) has moved in an upward direction, hinting at a change in momentum that seems to be benefiting the bulls. Furthermore, the ADO is producing green bars above the 0 line, which aligns with the breakout and demonstrates growing optimism and power.

PEPE Supply on Exchanges Drops, Investors Accumulate

Beyond just the technical aspects, the amount of PEPE held for four months or more has been significantly decreasing. A decrease in this measure indicates increased investor confidence and lessens selling pressure. Although a decrease in supply can be positive, accumulation by non-exchange addresses suggests that the outlook is extremely optimistic and full of confidence.

In summary, PEPE’s overall forecast appears optimistic, but if the price doesn’t sustain above the falling trendline following a breakout, it could suggest weakness. A pullback within the descending triangle would hint that the meme coin might drop toward the lower end of the triangle at $0.0000193.

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2024-11-21 18:18