🔥 Will PEPE Climb 30% This Week? This Analyst Thinks So
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.
💬 Breaking Bullish Pennant Successful Breakout Can Lead 25-30% Bullish Wave — World Of Charts
PEPE 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%.
🔸 Technical Indicators Display Positive Sentiment
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.
Currently at 56.16, the Relative Strength Index (RSI) points to a neutral to somewhat positive attitude lingering over the middle.
🔸 Forecast Highlights Long-Term Possibilities
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.
