Will PEPE Surge Following a Triangle Breakout to $0.0000314?

As a triangle pattern holds the fate of PEPE, the underlying volatility signals a potential breakout toward a new all-time high.

Despite the inverted head-and-shoulders pattern and breakout from the consolidation range, the sudden loss of momentum in the PEPE rally has resulted in price compression. This indicates a potential for increased volatility in the near term.

Currently, the PEPE coin is trading at $0.00002389, marking a 4% drop over the past 24 hours. This decline has undermined the recovery from last night.

PEPE Price Analysis

Amid increasing pressures, the PEPE coin price is forming a symmetrical triangle pattern on the 4-hour chart. As the price approaches the apex of the triangle, the meme coin appears to be preparing for a breakout that could set a decisive trend in motion.

Currently, PEPE’s price is testing the local support trendline. Furthermore, the MACD and signal lines are struggling to maintain a positive trend, as the bearish candle signals a potential merger. This suggests a possible bearish crossover with a new wave of negative candles.

According to the pivot levels, overhead resistance aligns with the center pivot level at $0.00002472. A breakout above this level would mark a key turning point for the PEPE coin price.

Thus, PEPE must maintain a strong close above this critical level to trigger a decisive bullish rally. Successfully doing so would confirm short-term bullish dominance.

This would also break the lower-high formation on the 4-hour chart. Conversely, a failure to break bullishly could see PEPE fall toward the local support trendline near $0.00002310.

Triangle Breakout Targets for PEPE

In case of a bullish breakout, the crucial resistance levels for PEPE are at the R1 and R2 resistance pivot levels, $0.00002780 and $0.00003144, respectively.

However, in case of a breakdown, the nearest support level is the S1 pivot level at $0.00002107. In such a case, traders should remain cautious as the downside risks become significant. Hence, the downside risk remains at 11.65%.