Pepe (PEPE), the popular and third-largest crypto meme coin, is gathering huge attention from crypto lovers after breaking out of a bullish cost action pattern. This breakout in PEPE follows a extended debtconsolidation stage enduring more than 3 weeks.
PEPE Technical Analysis and Upcoming Level
According to CoinPedia’s technical analysis, PEPE has damaged out of a bullish flag-and-pole cost action pattern, closing a strong everyday candlelight above the pole of the pattern. However, this breakout has moved the general belief amongst traders and financiers.
Based on current cost action, there is a strong possibility that PEPE might skyrocket by 45% to reach the $0.000036 level in the coming days. However, this cost forecast is totally based on the pattern breakout.
Additionally, this breakout has moved PEPE to a brand-new all-time high, and it is anticipated to continue its upward rally, possibly setting another record.
On the favorable side, PEPE’s Relative Strength Index (RSI) presently stands at 61, which is listedbelow the overbought limit of70 This suggests that PEPE has enough space to increase considerably in the coming days.
Bullish On-Chain Metrics
Following this breakout, traders’ and whales’ interest and self-confidence in the meme coin have increased, as reported by the on-chain analyt