PEPE is ready for a near-term rally as new chart patterns emerge.
- A bullish flag wedge marked the initial signal for PEPE’s potential rise to 0.00001725. Supporting factors further influenced the likelihood of this anticipated rally.
Despite a recent 8.82% drop in PEPE price over the last 24 hours, emerging market patterns indicate a possible reversal of the downtrend.
According to AMBCrypto’s analysis, this rally is just beginning, with additional supportive details continuing to surface.
Bullish flag signals potential rally for PEPE
A bullish flag, a technical pattern characterized by converging upper and lower diagonal lines, often predicts a price surge following a prolonged period of consolidation.
This pattern is currently evident in PEPE’s chart, and it is anticipated to propel the price to as high as $0.00001725, the pattern’s peak.
Source: Trading View
While it’s possible that prices may continue to fluctuate within this pattern for some time, a breakout is expected eventually.
Further analysis from AMBCrypto indicated a possible rally for PEPE, with more detailed insights provided below.
Increased volume and money flow point to bullish momentum for PEPE
Retail trader interest in PEPE has been rising, as indicated by the Moving Average Convergence and Divergence (MACD).
Recent analyses show the MACD displaying increasing bullish strength, with the MACD line (blue) crossing above the signal line (red) and ascending into the positive region.
MACD is a key trading indicator in the technical analysis of crypto prices, highlighting changes in the strength, direction, momentum, and duration of a price trend.
Source: Trading View
Additionally, the Chaikin Money Flow (CMF) has broken into the positive zone, rising consistently since the 15th of August. An increasing CMF suggests a growing inflow of liquidity into PEPE.
These indicators collectively suggest that PEPE is primed for a rally. Furthermore, the analysis shows that the number of active daily addresses for PEPE has also been increasing, adding to the optimistic outlook.
Renewed retail interest
According to Santiment, the count of active daily addresses for PEPE has shown a significant increase of 7.98% over the last 24 hours, indicating a growing interest among retail investors.
Source: Santiment
Read PEPE’s Price Prediction 2024-2025
The steady rise in active daily addresses, along with a rising Chaikin Money Flow (CMF), confirms high retail interest in PEPE. If this trend continues, the token is ready for further price increases, potentially leading to a breakout from its current trading pattern.
Such a breakout is expected to propel PEPE to a new high, targeting the price zone of $0.00001725.
Take a Survey: Chance to Win $500 USDT
Next: Shiba Inu price dips: Here are key levels to watch for a bullish reversal
Source
