Bullish Reversal Breakout in PEiPEi/USDT with Target Zone

11 May

Hello guys!

The PEiPEi/USDT daily chart presents a textbook inverse head and shoulders pattern, a classic bullish reversal formation. The structure is clearly labeled on the chart:

• Left Shoulder: Formed in late January.
  
• Head: Deep retracement bottoming in early March.
  
• Right Shoulder: Completed in April with higher lows.
  
• Neckline: Shown with a breakout accompanied by strong bullish momentum.
  
• Following the breakout above the neckline, price action surged, breaking above a consolidation wedge and validating the pattern. The breakout is supported by volume and momentum, indicating strong bullish conviction.
  

Key Zones:

• Breakout Level (Yellow Box): Around 0.000000045 – 0.000000050 USDT, acting as immediate support on a retest.
  
• Target Zone (Blue Box): Marked around 0.000000085 – 0.000000100 USDT, representing a projected 80% upside move from the breakout point. This target aligns with a previous major supply/resistance zone from late 2024.
  

15 May

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