Here we have a picture perfect reversal pattern forming that also follows a narrative.
First let's discuss the narrative. Why could PEPE pump? Well it is one of the most popular meme coins on ETH. Since we have the ETH ETF narrative starting to play out, we could see ETH related coins start to rally. This could add fuel to the fire with the TA looking great.
If we take a look at the inverse head and shoulders pattern, we know exactly what to look for.
The first important level would be the low established by the Head ($0.00000060).
The next key level would be the left and right shoulder that was established as support around ($0.00000090).
The breakout of the pattern would occur with a break of our neckline which has been established around ($0.00000170 - $0.00000180).
If this is to occur then we could expect at least a 66% move to the upside from the neckline. This would put us between the price range of ($0.00000279 - $0.00000300) which is over a 100% move from the current price levels.
First let's discuss the narrative. Why could PEPE pump? Well it is one of the most popular meme coins on ETH. Since we have the ETH ETF narrative starting to play out, we could see ETH related coins start to rally. This could add fuel to the fire with the TA looking great.
If we take a look at the inverse head and shoulders pattern, we know exactly what to look for.
The first important level would be the low established by the Head ($0.00000060).
The next key level would be the left and right shoulder that was established as support around ($0.00000090).
The breakout of the pattern would occur with a break of our neckline which has been established around ($0.00000170 - $0.00000180).
If this is to occur then we could expect at least a 66% move to the upside from the neckline. This would put us between the price range of ($0.00000279 - $0.00000300) which is over a 100% move from the current price levels.