PEPE retesting the breakout of the bullish double-bottom price action pattern, signaling a massive rally ahead.
Historical In/Out of the Money indicator reveals, that at the current level, 67.69% of PEPE holders are profitable.On the 24th of August, PEPE experienced a bullish breakout and closed a daily candle above the neckline of the double-bottom pattern. However, it is now retesting the level, which is a positive sign for the potential upcoming upside rally.
However, the on-chain analytic firm CoinGlass data suggested that traders are more bullish and highly leveraged on long positions. Conversely, if the sentiment shifts and the price drops to the $0.00000891 level, approximately $2.14 million worth of long positions will be liquidated.At press time, PEPE is trading near $0.00000901 and has remained stable over the last 24 hours. However, it reached an intraday high of $0.00000931 level.
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