Traders are becoming drawn to the meme-inspired crypto PEPE, after a technical study by the famous crypto expert World Of Charts shows it has some surprises under its sleeves.
As shown on X, PEPE is forming a positive pennant, which is a common technical sign for big price increases. According to World of Charts, the price of the meme coin could go up by 25 to 30%.
Converging trendlines following a significant price gain, commonly called the flagpole, constitute the bullish pennant, which often indicates a halt before the market continues its upward trajectory.
Pointing out a successful break from this pennant, World of Charts indicated a significant PEPE momentum. This breakout represents a turning point when the token breaks free from the consolidation period inside the convergent trendlines.
$Pepe
Breaking Bullish Pennant Successful Breakout Can Lead 25-30% Bullish Wave #Crypto #Pepe pic.twitter.com/o2Z9G6nWRV
— World Of Charts (@WorldOfCharts1) July 23, 2024
PEPE was
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