Pepe Coin Price Poised for Final Dip Ahead of Projected 30% Rally
In a recent tweet, market analyst CryptoDoc highlights the Pepe coin price resonating mainly within two converging trendlines of the daily chart. This consolidation reveals the formation of a bullish continuation pattern called a symmetrical triangle pattern.
Theoretically, the converging trendlines provide a temporary break for the prevailing trend to build its momentum before the next. In the last four days, the Pepe price rebounded from the pattern’s support trendline at $0.0000084 to $0.00000852, registering a 13% jump. Consequently, Pepe’s market cap surged to $4.01 billion.
Despite the bullish trajectory, the analyst predicts a small retest or final dip to the green zone support, coinciding with the pattern’s lower trendline.
If history repeats, the bottom support should replenish the bullish momentum for the PEPE price and push it to nearly 17% to challenge the overhead resistance. A successful flip of this overhead trendline into potential support could push the asset to $0.000012, registering an almost 30% growth.
