Pepe Coin Eyes 20% Surge as Ascending Triangle Hints at Bullish Breakout

PEPE forms an ascending triangle, with a 20% breakout possible above $0.00001526 resistance.

Open interest hits $595M, showing rising market confidence and increased capital inflow.

RSI near 70 and strong support at $0.00001245 signal consolidation before next leg higher.

Pepe Coin (PEPE) is forming a clear ascending triangle on the charts, pointing to a potential bullish breakout. With the meme coin already up more than 130% from recent lows, traders are watching closely for a move that could push prices 20% higher from current levels.

Technical Structure Shows Breakout Potential

According to an analysis prepared by Satori on X, PEPE has been moving in close correlation with Ethereum (ETH), mirroring its upward trajectory. The price recently bounced over 130% and is now consolidating within a well-defined ascending triangle. This formation is typically considered a continuation pattern and often precedes a breakout to the upside.

Source :Satori(X)

PEPE faced resistance near the 0.00001526 level, which aligns with the 1.0 Fibonacci extension. Support is currently holding near the 0.00001245 area, a key zone reinforced by the lower Bollinger Band and the 0.786 Fibonacci level. If price remains above this level, the structure stays valid, and a breakout toward 0.00001700 could follow.

Momentum indicators such as the RSI are cooling down from overbought territory, currently sitting near 70. The Awesome Oscillator remains positive, though weakening slightly, suggesting a consolidation phase may be underway before another leg up.

On-Chain Metrics Suggest Rising Market Confidence

Futures market activity also supports the bullish outlook. According to recent figures, PEPE’s open interest has reached a record $595.36 million. This surge, up from $398 million in April, suggests growing trader confidence and increased capital entering the market.

Meanwhile, large transaction volume has grown, with a 750% jump in $1M–$10M transactions this month. On-chain data also shows the MVRV ratio falling from peak levels, indicating some profit-taking but still sitting in a zone that does not yet suggest widespread selling.

If PEPE closes above resistance and confirms the triangle breakout, the projected 20% gain may trigger further momentum as traders re-enter long positions.

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