The rising triangle formation on the price chart “Rally formation has formed for $PEPE (#PEPE ).

It has been claimed that the memecoin launched on the Ethereum blockchain will reach an all-time high (ATH).

AMBCrypto, who said, “PEPE is accumulating in both whales and individual capital and waiting for the rise,” claimed that PEPE could rise to 0.00001725 forward.

Bells are ringing for Pepe (PEPE) An upward signal came from PEPE, which increased by 16.11 percent on the weekly chart. If PEPE breaks out of the current rising triangle formation, a new record may be broken.

According to the analysis, a symmetrical triangle has been formed by price levels that work as resistance and support systems. PEPE, which recently gained strength from the support at the level of 0.00000701, reached the upper resistance of the triangle formation at $ 0.00000876. The resistance point in question has aligned with a potential trend resistance.

The symmetrical triangle formation, which indicates a potential increase, has reached the continuation of the breakout, while the selling pressure has also decreased. The analysis interpreted the formation as follows;

“There needs to be a breakout above the upper resistance line. Successful overcoming of this level can completely elevate memecoin to the 2024 high of 0.00001725 or to the mid-level target of 0.00001307.” The analysis argued that PEPE could decline if the resistance in question could not be broken, and that its support at $ 0.00000701 was important.

In the analysis examining the Relative Strength Index (RSI), it was stated that it would support the recorded rally. It referred to the one used in the analysis.

“Right now, the RSI is exhibiting an upward price with a value of 56.75, and it seems that the price can be followed in this way. The resistance in the RSI usually precedes the potential increase in the price of the asset.”

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