Crypto Analyst Predicts Pepe Coin 'To Be Breaking Out' As Price Escapes Bearish Channel
Ali Martinez, in a tweet on X said, "PEPE could advance toward $0.0000016 or even $0.0000019!”
Cryptocurrency analyst Ali Martinez said that the meme cryptocurrency Pepe Coin (CRYPTO: PEPE) is currently showcasing signs of a bullish breakout from a downward trend.
What Happened: PEPE’s value on the 4-hour chart is seen emerging from a descending parallel channel—a pattern that shows that PEPE is off to a rally.
A descending parallel channel pattern shows that PEPE's price will go down over time while bouncing between two downward-sloping lines: one line is above the price and acting like a ceiling (resistance), while the other line is below the price, acting like a floor (support). These lines are parallel and contain the price between them, creating what is called a “channel.”
$PEPE appears to be breaking out from a descending parallel channel, which suggests #PEPE could advance toward $0.0000016 or even $0.0000019!
Pepe is up 12% rise in the past week—outperforming other meme cryptocurrencies such as Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) that were up 1%-3% in the last seven days. At the time of writing, PEPE was trading at $0.0000013, down 1% in the last 24 hours.
