🚀🚀🚀Pepe Coin Channel Breakout Pattern Shows Price Will Rise to $0.00001.
The cryptocurrency market has been in a horizontal movement for the last two weeks, reflecting uncertain investor sentiment about Bitcoin's Halving. While the BTC price is still fluctuating around $ 63,000, the Frog-themed memecoin Pepe has surpassed this general sentiment and has shown a remarkable rise on the daily chart.
The PEPE coin price is currently trading at $0.0000076, having recovered by 65% from the low of $0.0000046. In the midst of the rise, the cryptocurrency buyer made a decisive exit from the channel model, indicating higher growth potential.
The Pepe Coin Escape from the Channel Model Points To a Price Rally to $ 0.00001
Will the Recent Exit of Pepe Coin Lead to a 45% Increase?
On April 23, the Pepe coin price gave a decisive refractive channel pattern for the daily chart. The departure from this chart pattern indicates the maturity of the Deceleration trend and the renewed sense of recovery among investors.
At the moment, due to the lack of bullish momentum and the effective support of the trading volume, the break rally is standing above the broken trend line. However, intraday growth of 3.75% creates a swallowing bullish candle and quickly changes the dynamics in favor of the bulls.
While the overnight recovery mimics the morning star pattern, the post-retest rise aims to surpass the $0.0000092 peak. Also, a December holiday will be seen in a shorter time frame, which will support the bullish movement.
Given that the general market recovery aligns the timing with Pepe's exit rally, the meme coin may reach the $ 0.0000108 limit, which corresponds to an increase of 45%.
On the other hand, the bearish trend may reduce #PEPE 's valuation below the $0.00000663 support.
Technical Indicator
Relative Strength Index: The daily RSI slope above the 50% midline reflects the bullish trend returning to this asset.
EMA Indicator: The coin price manages to realize a bullish pivot from the 100D EMA, avoiding any intense bearish effects.o
