{"id":602960,"date":"2024-04-12T23:00:00","date_gmt":"2024-04-12T23:00:00","guid":{"rendered":"https:\/\/ktsl888.com\/?p=602960"},"modified":"2024-06-11T13:45:25","modified_gmt":"2024-06-11T13:45:25","slug":"pepe-preparing-54-move-analyst-thinks","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/pepe-preparing-54-move-analyst-thinks\/","title":{"rendered":"PEPE Preparing For A 54% Move? Analyst Thinks So"},"content":{"rendered":"

An analyst has explained how a PEPE daily close outside of a certain price range could lead its value to go on a rally of 54%.<\/p>\n

PEPE Symmetrical Triangle May Hint At The Next Move For The Memecoin<\/h2>\n

In a new post<\/a> on X, analyst Ali discussed the recent trend forming in the PEPE price. According to the analyst, the memecoin is currently forming a symmetrical triangle pattern on its one-day chart.<\/p>\n

The “symmetrical triangle<\/a>” here refers to a pattern in technical analysis (TA) that, as its name suggests, looks like a triangle. In this pattern, there are two lines of interest between which the asset’s price consolidates for a period.<\/p>\n

Related Reading: Bitcoin Back Above $70,000 Despite Negative Taker Volume<\/a><\/div>\n

The upper line connects successive tops, while the lower one joins together bottoms. The main feature of the pattern is that these two lines approach each other at a roughly equal and opposite slope (hence the “symmetrical” in the name).<\/p>\n

There are other triangle patterns in TA, but those have either differently angled lines (as is the case with wedges<\/a>) or one line parallel to the time-axis (ascending and descending triangles).<\/p>\n

Like other TA patterns that represent a consolidation phase, the lines of the symmetrical triangle also serve as a point of potential reversal for the price. The upper line usually offers resistance (meaning tops can occur), while the lower line may provide support (bottom formation).<\/p>\n

When a break takes place from either of these lines, the price may likely see sustained momentum in that direction. This implies that a break above the triangle could be a bullish signal, while one below may be bearish.<\/p>\n

The symmetrical triangle may be viewed as a phase of the market in which the bulls and bears are at a standstill, hence why the price is ranging sideways. During a break, one of these wins out, and price action follows in that direction.<\/p>\n

Naturally, as the lines converge towards a center point in this pattern, a breakout <\/a>becomes increasingly probable the closer to the apex of the triangle the asset’s price gets.<\/p>\n

Now, here is the chart shared by Ali that highlights the symmetrical triangle pattern that PEPE has been trading inside recently:<\/p>\n

\"PEPE<\/p>\n

Looks like the asset's price is getting closer to the converging point of the pattern | Source: @ali_charts on X<\/a><\/pre>\n
As is visible in the graph, the 1-day price of PEPE has been approaching the triangle’s apex recently, implying that a break in a direction may be coming for the memecoin.<\/p>\n
Related Reading: Dogecoin Usurped: These Memecoins Overtake DOGE In Active Trader Count<\/a><\/div>\n
“Watch out for a daily close outside of the $0.00000793 – $0.00000664 range, which could lead to a 54% move for PEPE,” explains the analyst. Given the pattern that has been forming, it now remains to be seen how the asset’s price will play out from here.<\/p>\n
PEPE Price<\/h2>\n
At the time of writing, PEPE is trading around $0.000006868072, up 3% over the past week.<\/p>\n
\"PEPE<\/p>\n
The price of the memecoin appears to have gone down recently | Source: PEPEUSD on TradingView<\/a><\/pre>\n
Featured image from Shutterstock.com, charts from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
An analyst has explained how a PEPE daily close outside of a certain price range could lead its value to go on a rally of 54%. PEPE Symmetrical Triangle May Hint At The Next Move For The Memecoin In a new post on X, analyst Ali discussed the recent trend forming in the PEPE price. According to the analyst, the memecoin is currently forming a symmetrical triangle pattern on its one-day chart. The “symmetrical triangle” here refers to a pattern in technical analysis (TA) that, as its name suggests, looks like a triangle. In this pattern, there are two lines of interest between which the asset’s price consolidates for a period. Related Reading: Bitcoin Back Above $70,000 Despite Negative Taker Volume The upper line connects successive tops, while the lower one joins together bottoms. The main feature of the pattern is that these two lines approach each other at a roughly equal and opposite slope (hence the “symmetrical” in the name). There are other triangle patterns in TA, but those have either differently angled lines (as is the case with wedges) or one line parallel to the time-axis (ascending and descending triangles). Like other TA patterns that represent a consolidation phase, the lines of the symmetrical triangle also serve as a point of potential reversal for the price. The upper line usually offers resistance (meaning tops can occur), while the lower line may provide support (bottom formation). When a break takes place from either of these lines, the price may likely see sustained momentum in that direction. This implies that a break above the triangle could be a bullish signal, while one below may be bearish. The symmetrical triangle may be viewed as a phase of the market in which the bulls and bears are at a standstill, hence why the price is ranging sideways. During a break, one of these wins out, and price action follows in that direction. Naturally, as the lines converge towards a center point in this pattern, a breakout becomes increasingly probable the closer to the apex of the triangle the asset’s price gets. Now, here is the chart shared by Ali that highlights the symmetrical triangle pattern that PEPE has been trading inside recently: Looks like the asset’s price is getting closer to the converging point of the pattern | Source: @ali_charts on X As is visible in the graph, the 1-day price of PEPE has been approaching the triangle’s apex recently, implying that a break in a direction may be coming for the memecoin. Related Reading: Dogecoin Usurped: These Memecoins Overtake DOGE In Active Trader Count “Watch out for a daily close outside of the $0.00000793 – $0.00000664 range, which could lead to a 54% move for PEPE,” explains the analyst. Given the pattern that has been forming, it now remains to be seen how the asset’s price will play out from here. PEPE Price At the time of writing, PEPE is trading around $0.000006868072, up 3% over the past week. The price of the memecoin appears to have gone down recently | Source: PEPEUSD on TradingView Featured image from Shutterstock.com, charts from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":602987,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[85699,88145,91150,91149,92071,88215,89513,88630],"class_list":["post-602960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-memecoin","tag-pepe","tag-pepe-bullish","tag-pepe-memecoin","tag-pepe-move","tag-pepe-price","tag-pepe-price-prediction","tag-pepe-rally"],"acf":[],"yoast_head":"\nPEPE Preparing For A 54% Move? 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"PEPE Preparing For A 54% Move? 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