The PEPE price is currently negotiating in a downward corner pattern, a historically bullish indicator which suggests an imminent escape. A crypto analyst predict that a decisive movement above the keys to resistance could trigger a 150% rally to New heights of all time for Pepe.
Key resistance to light the PEPE price rally
In the past few weeks, Pepe, the popular piece of memes on the theme of frogs, has been Stuck in a downward trendconstantly rejecting a line of descending resistance trend. The piece even had initially experienced significant earnings earlier this year. However, with recent volatility and decline the wider marketPepe and many other cryptocurrencies have recorded serious losses.
Related reading
Despite the downward performanceA tradingView pseudonym analyst called “mycryptoparadise” shared a Handy forecasts for the PEPE price. The analyst plans that he could undergo a massive price increase of 150%, pushing him to $ 0.00003 and marking new heights of all time.
In order for this prediction to become a reality, Pepe will have to confirm a Price reversal By going beyond the descending resistance and claiming a new support, as we can see on the graph. TradingView analyst said PEPE had to exceed the resistance of $ 0.000015, claiming it as a new support and a potential launch ramp with the bullish target of $ 0.00003.
While Breaking above key resistance May seem to be an easy feat, the PEPE price has failed to do so in the past few weeks. The same part rejected several Escape attempts; However, technical indicators reveal that the current fundamentals of PEPE prices remain optimistic.
In particular, Pepe is trapped inside a Ditch On its price table, a scheme known to precede a significant ascending impulse once the resistance is broken. If buyers’ demand successfully pushes Pepe above his resistance level of $ 0.0000,15, the analyst estimates that a parabolic rally can be in store for the memes room.
Pepe also forms a bullish divergence on the histogram in his table, signaling a possible rise up to the rise. The analyst said that for Pepe to reach his projected ATH target, the bulls will have to take control, helping to push the memes piece above the falling corner model.
Currently, the asset is at $ 0.00,0006 and $ 0.000012, where buyers have historically intervened to defend prices and avoid new breakdowns. An increase in its current price of 0.00000945 to 0.00003 $ would represent an increase of more than 150%.
Scenario lowering revealed
While sharing his bullish projection for The PEPE price, TradingView analyst also presented an alternative Lower perspectives for the meme piece. The analyst urged traders to remain cautious, because not containing $ 0.00,0006 and 0.000012 could invalidate the previous climbed configuration.
Related reading
The analyst provides that if the meme part does not break this area, it could trigger increased pressure, exposing the meme part to more risk and possibly trigger a deeper sale that would put the bears in total control.
Linkedin star image, tradingView.com graphic
