Traders
are
becoming
drawn
to
the
meme-inspired
crypto
PEPE,
after
a
technical
study
by
the
famous
crypto
expert
World
Of
Charts
shows
it
has
some
surprises
under
its
sleeves.

As
shown
on
X,
PEPE
is
forming
a
positive
pennant,
which
is
a
common
technical
sign
for
big
price
increases.
According
to
World
of
Charts,
the
price
of
the
meme
coin
could
go
up
by
25
to
30%.

 

Related
Reading

Converging
trendlines
following
a
significant
price
gain,
commonly
called
the
flagpole,
constitute
the
bullish
pennant,
which
often
indicates
a
halt
before
the
market
continues
its
upward
trajectory.

Pointing
out
a
successful
break
from
this
pennant,
World
of
Charts
indicated
a
significant
PEPE
momentum.
This
breakout
represents
a
turning
point
when
the
token
breaks
free
from
the
consolidation
period
inside
the
convergent
trendlines.

$Pepe

Breaking
Bullish
Pennant
Successful
Breakout
Can
Lead
25-30%
Bullish
Wave

#Crypto

#Pepe

pic.twitter.com/o2Z9G6nWRV

—
World
Of
Charts
(@WorldOfCharts1)

July
23,
2024

PEPE
was
trading
at
$0.00001263
at
the
time
of
writing,
suggesting
a
4.60%
increase;
forecasts
show
a
probable
climb
to
$0.00001600,
therefore
reflecting
a
possible
jump
of
up
to
27%.

Technical
Indicators
Display
Positive
Sentiment

For
PEPE,
the
technical
signals
a
cautiously
hopeful
picture.
Now
showing
a
positive
trend,
the
token
is
trading
above
both
its
50
EMA
($0.000011)
and
100
EMA
($0.00001029).
At
$0.00001288,
it
immediately
encounters
opposition
nevertheless.

 

A
good
breakthrough
of
this
level
may
drive
PEPE
towards
all-time
highs.
On
the
other
hand,
should
PEPE
lose
its
present
momentum
and
below
the
50
and
100
EMAs,
prices
would
perhaps
drop
to
the
support
level
of
$0.00000842.

Currently
at
56.16,
the
Relative
Strength
Index
(RSI)
points
to
a
neutral
to
somewhat
positive
attitude
lingering
over
the
middle.

Forecast
Highlights
Long-Term
Possibilities

Over
the
next
seven
days,
an
upswing
is
expected,
thereby
reflecting
a
positive
short-term
momentum
for
PEPE.
The
asset
is
selling
at
228%
below
its
expected
value
right
now,
implying
notable
undervaluation.

For
traders
hoping
to
profit
on
the
anticipated
price
movement,
this
gap
offers
a
solid
buy
possibility.
Technical
signs
pointing
to
rising
purchasing
pressure
and
market
bullish
mood
line
up
with
the
expected
upswing.

 

Related
Reading

Reflecting
considerable
medium-term
promise,
PEPE’s
price
is
expected
to
rise
by
245%
over
the
next
three
months
in
the
mid
to
long
term.
With
a

predicted
rise
of
180%
in
six
months,
this
growth
trajectory
keeps
on,
therefore
supporting
the
asset’s
great
upward
momentum.

Based
on
a
one-year
projection,
which
indicates
166%
increase
showing
long-term
value
appreciation
and
continuous
optimistic
attitude.
These
forecasts
imply
that
PEPE
is
likely
to
show
notable
increases,
so
it
appeals
to
both
long-term
and
short-term
investors.

Featured
image
from
X/@Aatroxcarry,
chart
from
TradingView

Go to Source
Author: Christian Encila

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