According to analyst Ali, the PEPE token appears poised for a bullish breakout. He highlights a developing head-and-shoulders bottoming pattern on the 3-day chart, with the left shoulder and head fully formed. Now the right shoulder is taking shape, suggesting the downtrend since December may soon reverse.
With PEPE priced around $0.0000000103 presently, Ali sees two key upside targets if the pattern triggers a spike. First, a move towards $0.0000017, and then a break of the resistance, which could spark a rapid surge to $0.0000027 based on the height of the pattern.
Buy Signal Also Flashing for PEPE
Bolstering the case for an imminent PEPE uptrend, Ali notes the TD Sequential indicator recently flashed a buy signal on the 3-day timeframe. This technical tool often spotlights when assets are overextended to the downside before shifting direction.
Confluence of Bullish Factors Emerging
The developing head-and-shoulders pattern and buy signal combine to present a high-probability setup for PEPE according to Ali. With the token appearing extremely oversold, the table seems set for a rebound. PEPE will be an interesting token to monitor for signs of the right shoulder forming and a breakout taking shape. If Ali’s analysis proves correct, PEPE could double in value quickly with technicals this aligned. Crypto investors may want to position ahead of the anticipated $0.0000017 and $0.0000027 upside targets being hit.
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