Pepe coin price has been in a tight range in the past two weeks, as the previous rally took a breather. Cryptocurrency analysts are optimistic that the coin could stage another rally, helped by the Reddit Army, which is planning to pump it. There are rising odds that the Pepe ( PEPE ) price will see more activity after a popular Reddit channel pointed to a potential pump. According to a post in the Pepecryptocurrency channel, users will purchase Pepe coins on December 3 at noon EST. This is a notable event since the Subreddit has over 18,000 members. Reddit users plan to pump Pepe | source: Reddit The potential Pepe coin pump is happening as crypto analysts predicted that the coin was ripe for a strong bullish breakout. In an X post, Chandler Bing, a popular crypto expert, noted that the coin had formed a falling wedge and that it would soon stage a strong rally. You might also like: Mantra price chart pattern points to a strong breakout soon $PEPE is currently in the final phase of the catapult-to-the-moon pattern. 🐸📈 #pepe pic.twitter.com/eSIWocagxw — Chandler Bing (@chandlerbingpl) December 3, 2024 Pepe Price Technical Analysis: Extremely Bullish Above $0.00002577 Pepe Coin price chart | Source: crypto.news Turning to the daily chart, we see that the Pepe coin jumped to a high of $0.000025 in November and then pulled back to $0.00001728. That lower side was notable because it was the upper side of the cup and handle pattern, which formed between May 2024 and November this year. A C&H pattern happens when an asset rises to a crucial resistance level, drops gradually, and forms a rounded bottom. It then rises and retests the initial resistance point. It is one of the most popular bullish patterns in the market. Similarly, a break and retest is a positive sign since it is a popular sign of a continuation. It normally happens when an asset breaks out and then resumes the continuation patterns. Pepe has also formed what looks like a bullish pennant chart pattern, which is made up of a long vertical line and a symmetrical triangle pattern. It normally results into a strong bullish breakout. It has also formed an inverse head and shoulders chart pattern, another positive sign. Therefore, there is a likelihood that it will continue rising in the next few days. A complete bullish breakout will be confirmed if the coin jumps above the year-to-date high. If that happens, it could jump by about 50% as bulls target the key resistance level at $0.000030. On the flip side, a drop below the support at $0.00001728 will invalidate the bullish view. You might also like: Coinbase hints at PNUT listing through Apple Pay tutorial
