- Pepe (PEPE) consolidates near key support at $0.00000450.
- A breakout above $0.00000520 could signal bullish momentum for PEPE.
- A drop below $0.00000420 would invalidate the bullish scenario for PEPE.
Pepe (PEPE) is consolidating near key support, forming an ascending triangle pattern on the 4-hour chart. If the memecoin breaks above resistance at $0.00000520, a significant bullish surge could follow. However, a drop below $0.00000420 could invalidate this pattern, signaling further consolidation or decline.
Pepe (PEPE) Shows Bullish Potential with Ascending Triangle Pattern
Pepe (PEPE) is showing signs of a potential surge as it consolidates near key support levels. According to analyst Pepe Whale, the frog-themed memecoin is currently forming an ascending triangle pattern on the 4-hour chart, indicating a potential bullish continuation.Â
PEPE has been trading around the $0.00000450 support, while the resistance level sits at $0.00000520. If PEPE breaks above this resistance, the price could experience significant upward momentum.
Support and Resistance Levels to Watch for PEPE Price Action
The current price action of PEPE is showing consolidation between the key support zone at $0.00000450 and resistance at $0.00000520. Should the price break above the resistance, PEPE could see further upside momentum, potentially reaching higher price levels.Â
However, Pepe Whale cautions that if the price drops below $0.00000420, the bullish outlook could be invalidated. In that case, PEPE might face further consolidation or even a deeper decline. Therefore, the next critical move for PEPE hinges on its ability to maintain support and break resistance.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
