The recent movement in PEPE resembles a textbook inverse head-and-shoulders pattern, indicating a potential bullish breakout.
Looking at the 4-hour chart, PEPE formed the pattern starting from late March to early April, reaching a low by mid-April, and then forming the right shoulder in early May.
After breaking the neckline at the beginning of May, it retested this level before rallying. If PEPE continues to follow this pattern, we might anticipate gains of around 70%, measured from the neckline, which could lead to a price target of approximately 0.000014.
This observation aligns with typical technical analysis strategies and could signal further upside potential for PEPE.
