PEPE Price Stuck in Sideways Trend Ahead of Potential Breakout
PEPE has been stuck in a sideways trend for weeks, with no clear direction. According to Coin Gabbar, the price is pinned at the apex of an ascending triangle on the daily chart and a symmetrical triangle on the 4-hour chart.
The 4-hour chart shows a tighter symmetrical triangle forming, with higher lows meeting lower highs in roughly the same zone as the daily pattern above. If the top boundary of the structure breaks, $0.00000310 shows up first as a resistance level, followed by $0.00000325 if momentum sticks around.
On the other hand, if the bottom boundary breaks, $0.00000271 is the first stop, then $0.00000257 if sellers don't let up.
The longs have taken the bulk of recent liquidations, with total liquidations hitting $186.38K over 24 hours, and $157.70K of that came from long positions versus just $28.68K on the short side.