The bull pennant formation is a significant pattern observed in financial markets, particularly in the context of technical analysis for stock, forex, or cryptocurrency trading. It is considered a continuation pattern, indicating that an asset's price is likely to continue moving in the direction of the trend that preceded the formation of the pennant. The pattern is named for its resemblance to a pennant flag and is typically seen in bullish markets, hence the term "bull" pennant.
The target area of 0.000017 for the flag formation will most likely be the scenario for PEPE. Since I believe the cryptocurrency market has much more to explore in 2024, I expect a new trend to start again in Meme tokens. In my opinion, Pepe will be the most valuable among these projects. Considering both these reasons and the flag formation that has occurred in PEPE's chart, I am expecting a significant rise.
Below is a screenshot of the article where I previously wrote about my views and targets for PEPE before the major rise began. As you can see in the screenshot, all my targets were achieved.
