Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»EXCHANGE NEWS»PEPE Breaks Out of Descending Channel: Analysts Set These Targets
EXCHANGE NEWS

PEPE Breaks Out of Descending Channel: Analysts Set These Targets

By Crypto FlexsJanuary 14, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
PEPE Breaks Out of Descending Channel: Analysts Set These Targets
Share
Facebook Twitter LinkedIn Pinterest Email

One analyst explained that PEPE may be moving toward this goal by breaking out of its current descending channel pattern.

PEPE recently broke out of a descending parallel channel.

new post At X, analyst Ali pointed out how the 4-hour PEPE price is currently breaking out of a descending parallel channel. In technical analysis, a “parallel channel” refers to an area surrounded by two parallel trend lines where the price of a particular asset has recently moved inward.

In general, price is likely to face resistance at the top of the channel, while the bottom can act as support. For this reason, highs and lows are likely to occur naturally along each trend line.

In the context of the current discussion, parallel channels, called top-down channels, are of interest. As the name suggests, this channel indicates a downward trend in an asset.

The upper line of a descending parallel channel is drawn by connecting the lower highs of the commodity price. Likewise, the lowest level is combined with a lower low.

In general, channel breakouts can be important because they can signal the continuation of a trend. In other words, a breakout above the upper line could be a bullish signal, while a break below the lower line could be a sign that the downtrend is strengthening.

Now here is a chart shared by the analyst that highlights the descending parallel channel pattern that has been forming in the recent 4-hours price of PEPE.

Looks like PEPE has been showing a break above this pattern recently | Source: @ali_charts on X

As shown in the graph above, PEPE has been trending within this descending parallel channel pattern over the past 24 hours until the meme coin enjoyed a sharp 16% jump and broke above the upper channel level.

The sharp rise in cryptocurrency prices came as a Bitcoin spot ETF gained approval from the US SEC. BTC itself was down just 4% on this bullish news, but altcoins in the sector moved ahead and started showing significant surges.

If PEPE now appears to be breaking out of its descending parallel channel, the meme coin could be set to continue its bullish momentum, as such breakouts have often occurred historically.

Of course, this is only possible if the breakout is actually confirmed since the coin has just started to rise. On the chart, Ali plotted the levels that PEPE could reach if this bullish pattern materializes.

$0.0000016 and $0.0000019 are two price levels highlighted by analysts for the asset as they are equidistant from the half-length and full-length of the channel, respectively.

If the coin touches the former, it would be up almost 11% from current price levels, while a rise in the latter would imply an increase of over 31%.

PEPE price

After last day’s surge, the asset’s price is currently trading around $0.000001446.

PEPE price chart

The price of the asset seems to have shot up over the past day | Source: PEPEUSD on TradingView

Featured image from Shutterstock.com, chart from TradingView.com

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Cardano (ADA) -It is not damaged, but there is no fireworks that can be moved yet.

July 2, 2025

Etherrium price behavior is weakened-danger of short-term modifications

June 29, 2025

Bitcoin prices return to green -building exercise for more profits

June 26, 2025
Add A Comment

Comments are closed.

Recent Posts

From Wall Street to Wallet: Ark Defai redefines financial architecture.

July 7, 2025

What Every Investor Should Know

July 6, 2025

Protecting Your Portfolio In A Volatile Market

July 6, 2025

A Trader’s Guide To Smarter Moves

July 6, 2025

Crypto Price Prediction Strategies – How Traders Forecast The Market

July 6, 2025

Causes, History, And How To Survive

July 6, 2025

A Guide To High-Risk, High-Reward Strategies

July 6, 2025

Ethereum MVRV has 1.20–1.25 and suggests that Market Peak is not visible.

July 6, 2025

Bitcoin holders reach $ 1 trillion in paper gains.

July 6, 2025

It flashes again in July

July 6, 2025

AAS MINER Rolls Out 2025 AI Cloud Mining Plan — Fully SEC-Compliant, Risk-Controlled, And Tailored For Crypto Enthusiasts

July 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

From Wall Street to Wallet: Ark Defai redefines financial architecture.

July 7, 2025

What Every Investor Should Know

July 6, 2025

Protecting Your Portfolio In A Volatile Market

July 6, 2025
Most Popular

Script – ScriptSigSize fdf501 – Bitcoin Stack Exchange

April 17, 2024

Blockchain will upend economies of scale

March 15, 2024

BlockDAG presales exceed $10.9 million. Solana DeFi TVL Rebounds and Bitcoin ETF Surges

March 31, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.