PEPE: Breakout Almost Confirmed. What’s The Upside Potential According To PEPE’s Chart? PEPE is breaking out. How much upside potential is there in the price of PEPE?
We believe the next PEPE chart is the one that combined the right timeframe with the right chart structures.
What we observe:
PEPE respected its 38.2% Fibonacci retracement level – great!
PEPE is breaking out, clearing a falling trendline – great!
PEPE is now testing the start of the reversal structure that started early August (some 10 red consecutive candles) – this is a point of resistance.
PEPE chart conclusions
A few important PEPE chart conclusions:
Overall, the chart structure is looking good, a pretty constructive development is ongoing.
1. In terms of price, it is great to see how the 38.2% Fibonacci level is holding up very well.
2. In terms of time, the big run of Feb/March 2024 seems to need more time before it has matured to develop the next big run.
3. The breakout which is currently ongoing, clearing the falling trendline, is not confirmed as any breakout requires at least 5 consecutive day for confirmation.
