#PEPE‏ now test the neckline of the pattern at $0.0000049, a level that needs to flip to support to confirm the bullish setup.

The momentum indicators support a greater rise. The MACD is widening its gap above the signal line while the RSI approaches the neutral line of 50 for the first time in two months, both signals that buyers are controlling the movement.

Fully realized, the pattern points to a measured move of 50% to reclaim the November highs at $0.0000075. But if this level can be flipped to support, it could mark the beginning of an extended rally.

And with supportive market conditions, such as a U.S. interest rate easing in December to stimulate demand for riskier plays like PEPE, it could push 240% to May highs at $0.0000165.