An analyst has explained how a PEPE daily close outside of a certain price range could lead its value to go on a rally of 54%. PEPE Symmetrical Triangle May Hint At The Next Move For The Memecoin In a new post on X, analyst Ali discussed the recent trend forming in the PEPE price. According to the analyst, the memecoin is currently forming a symmetrical triangle pattern on its one-day chart. The “symmetrical triangle” here refers to a pattern in technical analysis (TA) that, as its name suggests, looks like a triangle. In this pattern, there are two lines of interest between which the asset’s price consolidates for a period. Related Reading: Bitcoin Back Above $70,000 Despite Negative Taker Volume The upper line connects successive tops, while the lower one joins together bottoms. The main feature of the pattern is that these two lines approach each other at a roughly equal and opposite slope (hence the “symmetrical” in the name). There are other triangle patterns in TA, but those have either differently angled lines (as is the cas ..
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