Based

World

when

PEPE

Traders are becoming drawn to the meme-inspired crypto PEPE, after a technical study by the famous crypto expert World Of Charts shows it has some surprises under its sleeves. 
As shown on X, PEPE is forming a positive pennant, which is a common technical sign for big price increases. According to World of Charts, the price of the meme coin could go up by 25 to 30%. 
Converging trendlines following a significant price gain, commonly called the flagpole, constitute the bullish pennant, which often indicates a halt before the market continues its upward trajectory. 
Pointing out a successful break from this pennant, World of Charts indicated a significant PEPE momentum. This breakout represents a turning point when the token breaks free from the consolidation period inside the convergent trendlines. 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/search?q=%24Pepe&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow">$Pepe</a> 
 Breaking Bullish Pennant Successful Breakout Can Lead 25-30% Bullish Wave <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Pepe?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow">#Pepe</a> <a href="https://t.co/o2Z9G6nWRV" rel="nofollow">pic.twitter.com/o2Z9G6nWRV</a> 
 — World Of Charts (@WorldOfCharts1) <a href="https://twitter.com/WorldOfCharts1/status/1815885909600133269?ref_src=twsrc%5Etfw" rel="nofollow">July 23, 2024</a>
</blockquote> 
<a href="https://www.coingecko.com/en/coins/pepe" target="_blank" rel="noopener nofollow">PEPE</a> was trading at $0.00001263 at the time of writing, suggesting a 4.60% increase; forecasts show a probable climb to $0.00001600, therefore reflecting a possible jump of up to 27%. 
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-631356" src="https://www.newsbtc.com/wp-content/uploads/2024/07/a_d1990c.png?resize=1024%2C473" alt="" width="1024" height="473" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/a_d1990c.png?resize=1024%2C473?w=1049 1049w, https://www.newsbtc.com/wp-content/uploads/2024/07/a_d1990c.png?resize=1024%2C473?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/a_d1990c.png?resize=1024%2C473?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/a_d1990c.png?resize=1024%2C473?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/a_d1990c.png?resize=1024%2C473?w=750 750w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
<h2 id="strong-technical-indicators-display-positive-sentiment-strong">Technical Indicators Display Positive Sentiment</h2> 
For PEPE, the technical signals a cautiously hopeful picture. Now showing a positive trend, the token is trading above both its 50 EMA ($0.000011) and 100 EMA ($0.00001029). At $0.00001288, it immediately encounters opposition nevertheless. 
A good breakthrough of this level may drive PEPE towards all-time highs. On the other hand, should PEPE lose its present momentum and below the 50 and 100 EMAs, prices would perhaps drop to the support level of $0.00000842. 
<img loading="lazy" decoding="async" class="size-full" src="https://www.tradingview.com/x/caQrCX5l/" width="1835" height="883"> 
Currently at 56.16, the Relative Strength Index (RSI) points to a neutral to somewhat positive attitude lingering over the middle. 
<h2 id="strong-forecast-highlights-long-term-possibilities-strong">Forecast Highlights Long-Term Possibilities</h2> 
Over the next seven days, an upswing is expected, thereby reflecting a positive short-term momentum for PEPE. The asset is selling at 228% below its expected value right now, implying notable undervaluation. 
For traders hoping to profit on the anticipated price movement, this gap offers a solid buy possibility. Technical signs pointing to rising purchasing pressure and market bullish mood line up with the expected upswing. 
<img loading="lazy" decoding="async" class="wp-image-631358 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/a_907f9a.png?resize=1024%2C356" alt="" width="1024" height="356" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/a_907f9a.png?resize=1024%2C356?w=1364 1364w, https://www.newsbtc.com/wp-content/uploads/2024/07/a_907f9a.png?resize=1024%2C356?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/a_907f9a.png?resize=1024%2C356?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/a_907f9a.png?resize=1024%2C356?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/a_907f9a.png?resize=1024%2C356?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/a_907f9a.png?resize=1024%2C356?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
Reflecting considerable medium-term promise, PEPE’s price is expected to rise by 245% over the next three months in the mid to long term. With a <a href="https://coincheckup.com/coins/pepe-token/predictions" target="_blank" rel="noopener nofollow">predicted rise of 180%</a> in six months, this growth trajectory keeps on, therefore supporting the asset’s great upward momentum. 
Based on a one-year projection, which indicates 166% increase showing long-term value appreciation and continuous optimistic attitude. These forecasts imply that PEPE is likely to show notable increases, so it appeals to both long-term and short-term investors. 
Featured image from X/@Aatroxcarry, chart from TradingView

Will PEPE Climb 30% This Week? This Analyst Thinks So

Table of Contents

NewsBTC

Other articles published on Jul 24, 2024

Matrixport Observes Bitcoin Mining Trend

Uniswap Announces UniswapX Update with New Auction Contract

Kraken Begins Distributing Bitcoin to Mt. Gox Creditors

Binance Labs Backs Catizen, Telegram’s Leading Web3 Gaming Platform

HNT Price Prediction: Breakout Rally in Helium Eyes $8

Dogecoin Golden Cross Alert: Is DOGE Set for 18,000% Rally?

Join our free newsletter for daily crypto updates!