bullish

PEPE

<p><a href="https://captainaltcoin.com/meme-coin-whales-are-massively-accumulating-pepe-will-price-keep-pumping/" target="_blank" rel="noopener noreferrer nofollow">PEPE</a> is drawing attention due to its bullish chart pattern and price movements. Analyst Mihir revealed on X (formerly Twitter) that a “lovely W-shape pattern” has been formed on the charts and emphasized a local resistance line that the price is approaching. This pattern, along with key support levels, suggests the potential for a breakout, possibly leading to upward momentum.</p>
<h2 class="wp-block-heading" id="pepe-chart-analysis-w-shape-pattern-suggests-bullish-reversal">PEPE Chart Analysis: W-Shape Pattern Suggests Bullish Reversal</h2>
<p>The chart presented by Mihir features a W-shape pattern, also known as a double-bottom formation. This structure often indicates a potential bullish reversal when accompanied by significant resistance clearance.</p>
<p>Currently, <a href="https://captainaltcoin.com/why-is-pepe-price-pumping/" target="_blank" rel="noopener noreferrer nofollow">PEPE’s price</a> is nearing a local resistance zone marked by an orange trendline, identified at approximately 0.00002200. This level has held back upward price movement so far, but a breakout above it could confirm the bullish pattern. Such a move would likely push PEPE’s price towards the range of 0.00002400 to 0.00002600, depending on the height of the W pattern.</p>
<figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="705" src="https://captainaltcoin.com/wp-content/uploads/2024/11/image-585-1024x705.png" alt="" class="wp-image-583950" srcset="https://captainaltcoin.com/wp-content/uploads/2024/11/image-585-1024x705.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-585-300x207.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-585-767x528.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-585-1536x1058.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-585-2048x1411.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-585-218x150.png 218w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-585-100x69.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-585-508x350.png 508w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-585-788x542.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-585.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><strong><em>Image Source: <a href="https://x.com/RhythmicAnalyst/status/1858186117121519803" target="_blank" rel="noopener noreferrer nofollow">X/Mihir</a></em></strong>
 </figcaption>
</figure>
<h2 class="wp-block-heading" id="support-and-momentum-indicators">Support and Momentum Indicators</h2>
<p>Below the W-pattern, strong support has been observed near the 0.00002100 price level. This zone has been tested multiple times, confirming buyer interest and defending against downward movements. The formation of higher lows further suggests accumulating strength in the token’s price action.</p>
<p>Volume dynamics, while not directly visible in the provided chart, play a vital role in confirming breakouts. Traders often watch for increased volume to validate upward momentum once resistance levels are breached.</p>
<p>Moreover, Mihir’s tweet emphasized the role of the orange resistance line in PEPE’s potential upward move. The tweet suggests that clearing this resistance could lead to substantial price momentum, aligning with the chart’s bullish outlook.</p>
<p>The sentiment shared by the analyst highlights confidence in the W-pattern’s ability to push <a href="https://coinmarketcap.com/currencies/pepe/" target="_blank" rel="noopener noreferrer nofollow">PEPE’s price</a> higher if the breakout materializes. For traders, the upcoming test of the resistance level will be pivotal in determining short-term price movements.</p>
<p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/is-pepe-price-about-to-explode-this-pattern-hints-at-massive-breakout/" rel="noopener noreferrer nofollow">Is PEPE Price About to Explode? This Pattern Hints at Massive Breakout!</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Is PEPE Price About to Explode? This Pattern Hints at Massive Breakout!

Table of Contents

CaptainAltcoin

Other articles published on Nov 17, 2024

Dogecoin Targets $0.9: Another Bull Pennant in Play

Shiba Inu Price Prediction: SHIB to Climb 900%, Cardano (ADA) Forecasted for 1,200%, While Dogen ...

How Long Will Bitcoin (BTC) Bull Market Last? Analyst Explains

Market Analysts Predict Price Movements for BONK, Ripple (XRP), and MINA Coin

A Memecoin Breaks All-Time Price Record – Plans to Burn 1 Trillion Tokens

Gary Gensler Steps Down—Is XRP Set to Soar? Which Altcoins Will Follow Its Lead?

Join our free newsletter for daily crypto updates!