Pepe

Resistance

<p>Pepe (PEPE) memecoin appears to be consolidating within a tight range after a recent breakout. This is setting the stage for a significant recovery.</p>
<p>World of Charts noted that the formation of a bullish pennant could signal an impending upward movement. It could potentially lead to a rally of 200% following a successful breakout.</p>
<p>The analyst’s chart analysis reveals a pattern resembling a bullish pennant. Over the last few months, specifically since May, <a href="https://phemex.com/academy/what-is-crypto-consolidation" target="_blank" rel="noopener noreferrer nofollow">the price has been consolidating</a>. It has been having a series of lower highs and higher lows that create a symmetrical triangle.</p>
<p>This consolidation typically indicates a pause before a breakout, which, in this scenario, suggests a bullish trend may be on the horizon.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/chainlink-link-price-breaking-out-as-expected-while-filecoin-fil-prepares-for-a-bullish-wave/" target="_blank" rel="noopener noreferrer nofollow">Chainlink (LINK) Price Breaking Out as Expected While Filecoin (FIL) Prepares for a ‘Bullish Wave’</a></em></strong></p>
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<h2 class="wp-block-heading" id="ongoing-resistance-breakout-weakening-of-resistance">Ongoing Resistance Breakout (Weakening of Resistance)</h2>
<p>The chart indicates the price is attempting to break above the upper trendline of the pennant. If it happens we could see the beginning of a new upward momentum.</p>
<p><a href="https://x.com/WorldOfCharts1/status/1854503121797702067" target="_blank" rel="noopener noreferrer nofollow">The analyst notes </a>that based on the measured move from the pennant formation, the target projection stands at approximately 0.000030 USDT.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/why-polkadot-dot-may-never-return-to-top-10-cryptos-despite-upcoming-upgrades/" target="_blank" rel="noopener noreferrer nofollow">Why Polkadot (DOT) May Never Return to Top 10 Cryptos Despite Upcoming Upgrades</a></em></strong></p>
<p>This projection represents a potential gain of about 174.25% from the breakout point, closely aligning with World Of Charts’ expectation of a 200% upside after a successful breakout, reflecting heightened bullish sentiment.</p>
<p>The breakout from the pennant presents an ideal entry point for traders looking to take bullish positions. A daily close above the trendline would confirm the breakout and minimize the risk of a false move.</p>
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<p>The post <a href="https://captainaltcoin.com/pepe-meme-coin-eyes-200-rally-as-6-month-price-resistance-weakens/" rel="noopener noreferrer nofollow">Pepe Meme Coin Eyes 200% Rally as 6-Month Price Resistance Weakens</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Pepe Meme Coin Eyes 200% Rally as 6-Month Price Resistance Weakens

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