Analyst Spots Bullish Setup On PEPE Coin, 0.00001400 Next?
The post Analyst Spots Bullish Setup On PEPE Coin, 0.00001400 Next? appeared on BitcoinEthereumNews.com. Technical analysts note PEPE Coin price development after it established a well-defined “cup and handle” pattern. This serves as an indication for further upward movement. More so, experts anticipate an imminent breakout because this particular pattern developed alongside rising trading volume during periods of market strength. The setup indicates a potential rally in PEPE price if it clears key resistance levels, with projections pointing toward a price target of $0.00001400. According to crypto market analyst James Wynn, who recently shared his chart analysis on social platform X, the coin is nearing the pattern’s neckline. If broken, the move could initiate an upward surge, supported by heightened investor activity. PEPE Coin Price Cup and Handle Formation James Wynn’s analysis outlines the formation of a cup and handle on the PEPE/USDT chart, a structure typically recognized in technical analysis as a bullish continuation pattern. The “cup” shape represents a period of gradual recovery and accumulation, following a prior downtrend. It reflects a market scenario where early buyers accumulate an asset over time, gradually building momentum. The “handle” part of the pattern follows this recovery and often involves a minor pullback or sideways consolidation. This pattern reflects a short-term pause, where some traders exit for profit, and others prepare for potential continuation. Source: X In PEPE’s case, this consolidation was forming just below the resistance level of $0.00001000. A breakout from the handle, especially if supported by strong trading volume, could confirm the bullish outlook. Key Resistance Levels May Trigger Short-Term Volatility Wynn identifies two major resistance levels that traders are currently observing: $0.00001000 and $0.00001050. The first level, $0.00001000, is considered a psychological barrier. The second resistance level, $0.00001050, is both a technical barrier and a target area for short-term profit realization. The analyst notes that should the price rise to this…
The post Analyst Spots Bullish Setup On PEPE Coin, 0.00001400 Next? appeared on BitcoinEthereumNews.com.
Technical analysts note PEPE Coin price development after it established a well-defined “cup and handle” pattern. This serves as an indication for further upward movement. More so, experts anticipate an imminent breakout because this particular pattern developed alongside rising trading volume during periods of market strength. The setup indicates a potential rally in PEPE price if it clears key resistance levels, with projections pointing toward a price target of $0.00001400. According to crypto market analyst James Wynn, who recently shared his chart analysis on social platform X, the coin is nearing the pattern’s neckline. If broken, the move could initiate an upward surge, supported by heightened investor activity. PEPE Coin Price Cup and Handle Formation James Wynn’s analysis outlines the formation of a cup and handle on the PEPE/USDT chart, a structure typically recognized in technical analysis as a bullish continuation pattern. The “cup” shape represents a period of gradual recovery and accumulation, following a prior downtrend. It reflects a market scenario where early buyers accumulate an asset over time, gradually building momentum. The “handle” part of the pattern follows this recovery and often involves a minor pullback or sideways consolidation. This pattern reflects a short-term pause, where some traders exit for profit, and others prepare for potential continuation. Source: X In PEPE’s case, this consolidation was forming just below the resistance level of $0.00001000. A breakout from the handle, especially if supported by strong trading volume, could confirm the bullish outlook. Key Resistance Levels May Trigger Short-Term Volatility Wynn identifies two major resistance levels that traders are currently observing: $0.00001000 and $0.00001050. The first level, $0.00001000, is considered a psychological barrier. The second resistance level, $0.00001050, is both a technical barrier and a target area for short-term profit realization. The analyst notes that should the price rise to this…
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