- Analyst KALEO expects PEPE to experience another spike after the formation of a descending triangle pattern.
- PEPE faced a fall of 11.95% in seven days and is trading at $0.000001532.
- The meme coin’s current falling wedge pattern could drive PEPE’s price upwards.
A crypto analyst under the pseudonym KALEO made a prediction for PEPE, expecting the meme coin to experience another bull run. The crypto analyst shared a 1-hour chart of PEPE where two descending triangles had formed. When the first descending triangle pattern formed, PEPE rose drastically forming new higher highs. KALEO could be indicating that a similar sentiment could be observed soon after the formation of the second descending triangle.
Currently, PEPE is trading between its intraday high of $0.000001537 and intraday low of $0.00000149. PEPE also faced a fall of 11.95% in seven days and is trading at $0.000001532, at the reported time. According to CoinMarketCap, PEPE’s market cap is currently valued at $600,113,020 after experiencing a surge of 1.02% in one day. Moreover, PEPE’s seven-day fall led the meme coin to reside within the red zone vicinity.
Looking at the 3-Hour PEPE/USDT chart, the candlesticks formed an inverted cup and handle pattern which led the meme coin to face a slight fall after its massive overbought spike. However, after a tumble, PEPE experienced another major spike making it cross beyond the $0.00000180 level. There is a high chance that the second major spike event happened after buyers entered the market.
Earlier, after the second major spike, PEPE started forming new lower lows, which started to decrease the meme coins’ value. However, the lower lows formed were part of a falling wedge pattern.
Once the falling wedge pattern completes its formation, there may be a chance that PEPE could form green candlesticks and experience a bullish momentum. If PEPE experiences a bullish sentiment due to the falling wedge pattern, there may be a chance that the meme coin could trade beyond the $0.00000180 level once again.
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