Vladislav Hryniv(@vlad_hryniv)'s insights

--・842 views

$PEPE Price Analysis Hints 63% Break Out - CoinGape Analytics PEPE price broke out of an ascending triangle on May 21 and established a new all-time high (ATH) price. However, as investors began to take profits, the price of PEPE began to retrace and went as low as $0.00001057. After nearly a month of downside movement, the PEPE price reached a critical resistance-turned-support level. These kinds of support structures are usually strong and can sustain the price up, all factors are constant. Pepe’s price is also in a falling wedge, which is a bullish market structure. The current PEPE price level coincides with the 0.786 Fibonacci retracement level, which usually offers decent support for the price to bounce back. Moreover, the price retracing to the current level is part of a breakout and tests for the three-month ascending triangle Pepe broke out from. If Pepe’s price breaks out to the upside of the falling wedge, the asset may surge back to its previous all-time high. Considering the 0.27 Fibonacci extension level, PEPE may rise 63% from its current price to hit a new ATH price of $0.00001948. On the flip side, $0.00001057 is expected to hold water.

$PEPE Price Analysis Hints 63% Break Out - CoinGape Analytics
PEPE price broke out of an ascending triangle on May 21 and established a new all-time high (ATH) price. However, as investors began to take profits, the price of PEPE began to retrace and went as low as $0.00001057.
After nearly a month of downside movement, the PEPE price reached a critical resistance-turned-support level. These kinds of support structures are usually strong and can sustain the price up, all factors are constant. Pepe’s price is also in a falling wedge, which is a bullish market structure.
The current PEPE price level coincides with the 0.786 Fibonacci retracement level, which usually offers decent support for the price to bounce back. Moreover, the price retracing to the current level is part of a breakout and tests for the three-month ascending triangle Pepe broke out from.
If Pepe’s price breaks out to the upside of the falling wedge, the asset may surge back to its previous all-time high. Considering the 0.27 Fibonacci extension level, PEPE may rise 63% from its current price to hit a new ATH price of $0.00001948. On the flip side, $0.00001057 is expected to hold water.