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PEPE Trades in Tightening Triangle With $0.000011 Resistance in Focus as Breakout Signals Build
PEPE trades near $0.00001116 as tightening triangle pattern signals possible breakout ahead.
Stoch RSI oversold while MA convergence and wedge formation hint at bullish price potential.
Volume drop and stable structure suggest PEPE may be nearing a bottom before the next move.
PEPE is currently trading within a tightening triangle formation, with traders closely watching for a breakout. The Stoch RSI signals an imminent upward move, and market data reflects growing interest. As price action nears the triangle’s upper boundary, technical setups suggest a potential rally ahead.
Triangle Formation Nearing Breakout Point
According to analysis prepared by Davie Satoshi via X, PEPE’s price is moving within a triangle pattern and is approaching a potential breakout point. The PEPE/USDT 3-day chart shows a descending wedge structure, which historically leads to upward movements when broken
The current price stands at $0.00001116, with a 2.83% gain in the past 24 hours. The moving averages, MA 21 and MA 9, are converging near the upper trendline. This positioning reflects tightening price action, often a signal of an upcoming move
Source: CoinMarketCap
CoinMarketCap data shows steady volume at $790.3 million, while the RSI is recovering from oversold levels. These technical indicators are forming a foundation for a possible rally.
Indicators Reflect Mixed Sentiment but Point to Strength
The Stoch RSI remains low, with %K at 19.15 and %D at 16.10, suggesting oversold conditions and potential for upward price movement. PEPE is consolidating within the $0.00001-$0.000011 range, and despite broader market pullbacks, it has maintained its structure without a breakdown.
The MACD histogram remains slightly negative, which shows some hesitation among buyers. However, previous similar patterns have resulted in bullish outcomes. Bollinger Bands place PEPE near the lower band, a common signal for a reversal when supported by volume.
As of now, PEPE's circulating supply is fully unlocked at 420.68 trillion, with over 473,000 holders. According to CoinGlass data, volume has dropped from July highs of $5 billion to $1.2 billion in early August, which some analysts view as a sign of a nearing bottom.
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