Technical analysis by RTED_Investing about Symbol PEPE: Buy recommendation (10/30/2024)

PEPEUSDT has recently established a fake breakout at the previous support level, forming a double bottom pattern. Since the beginning of the month, the pair has been consolidating following an impulse move, which suggests potential accumulation. On the daily timeframe, an inverse head and shoulders pattern is visible, signaling a possible reversal. If the price retests the support level and holds, it may gain the momentum needed to break through the downward channel. The target for this potential bullish move is the resistance zone around 0.0000108