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PEPE at Crossroads 🐸⚡ – Symmetrical Triangle Nears Its End

The higher line of the pattern keeps the price from going up, while the bottom line keeps it from going down. The price stays caught in the channel between them, and since the trendlines are converging, the asset's range becomes smaller as it travels within the triangle.

If the price breaks out of any of these ranges, it might mean that the trend will continue in that direction. A break above the triangle might be an indication of a bull market, while a drop below it can be a sign of a bear market.

Pepe has been locked in this channel since December of last year, as you can see in the graph above. However, its price is presently very close to the top. In general, breakouts are more likely to happen when an asset's range is narrower since retests occurs more often.

The memecoin is presently at the very point of the triangle, which means its range is quite tiny. This means that it could be able to break free soon. Most people think that symmetrical triangles have the same bias in both directions, which means that the asset might break out in any way.

The distance between the trendlines at their broadest point is usually the same as the length of the triangle breakouts. The expert thinks that the memecoin may be getting up for a 78% increase based on this.

We still don't know how the price of the cryptocurrency will change in the near future or which side of the Symmetrical Triangle a breakout will happen on.

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