An analyst has explained how a PEPE daily close outside of a certain price range could lead its value to go on a rally of 54%.
PEPE Symmetrical Triangle May Hint At The Next Move For The Memecoin
In a new post on X, analyst Ali discussed the recent trend forming in the PEPE price. According to the analyst, the memecoin is currently forming a symmetrical triangle pattern on its one-day chart.
The “symmetrical triangle” here refers to a pattern in technical analysis (TA) that, as its name suggests, looks like a triangle. In this pattern, there are two lines of interest between which the asset’s price consolidates for a period.
The upper line connects successive tops, while the lower one joins together bottoms. The main feature of the pattern is that these two lines approach each other at a roughly equal and opposite slope (hence the “symmetrical” in the name).
There are other triangle patterns in TA, but those have either differently angled lines (as is the case wi
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