PEPE's Symmetrical Triangle: Potential Breakout Coming Soon

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It has been trading in a narrow price range, forming a symmetrical triangle pattern over the past month. This pattern indicates a balance between buyers and sellers and usually foreshadows large price moves.
The price of PEPE fell back 13% after challenging the resistance level of $0.00001348. According to CoinMarketCap, PEPE is currently priced at
0.00001152 USD, a slight increase of 0.02% in the last 24 hours. This shows that the stance remains stable despite the overall market volatility.

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Holder sentiment: bullish or bearish?

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According to IntoTheBlock, the sentiment around PEPE remains optimistic. Currently, 78.56% of PEPE
Holders are in profit, which indicates that most investors are making profits. In contrast, only 14.46%
of addresses are in the red, which reduces the likelihood of selling pressure from those looking to cut losses. Additionally, the surge in new and active addresses adds a bullish undertone to the current market scenario, as increased participation generally aligns with higher market interest and potential price volatility.

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Further analysis of Coinglass’s liquidation heatmap shows that liquidation levels have ranged from $0.00001164 to $0.00001180 in the past 24 hours.
The dollar is trading higher between the US dollar and the dollar. This indicates a concentration of trader activity, indicating an increase in leveraged positions, which could spur a breakout if the upper limit is tested and surpassed. So far, technical indicators show that an upward breakout is possible as long as the market gains enough momentum. However, market conditions may change and a break below the key support level could mean further price depreciation.

in conclusion

In summary, PEPE

Price consolidation within the symmetrical triangle pattern suggests an imminent breakout, which is supported by various market indicators and positive holder sentiment. Investors should remain vigilant about key resistance and support levels as a breakout or breakdown will determine
The short-term trend of PEPE. Whether the meme coin will rise or fall will largely depend on the upcoming market dynamics and cryptocurrency market trends.