Main to remember
Pepe has formed a head and shoulder scheme on the daily graphic, with a potential drop of 22% if the price does not resume the resistance area of $ 0.000013 soon.
The strong red spark plug in Pepe (PEPE), the same viral, has sparked a classic downward inversion structure and traders are now preparing for a potential dumping ground.
Pepe fights near the breakdown area
The global cryptocurrency market has experienced a side or downward dynamic. Thus, the same has followed suit and dropped by more than 7.5% in the past 24 hours, sliding towards the level of necks almost $ 0.000012.
During the same period, the negotiation volume increased by 4.5%, referring to increased participation, either for coverage or purchase of dip.
Source: tradingView
Ambcrypto’s technical analysis has shown that the PEPE was in a short -term trend, but a weekly decrease of 20% reported a probable reversal.
On the daily graphic, the same seemed to be broken down from a head and shoulder pattern. He reached the neckline nearly $ 0.00001220 at the time of the press.
If Pepe fails to recover this level, a movement of 22% is less than $ 0.00,0009 remains likely.
However, this downward structure would be invalidated if the medal closes a daily candle above $ 0.000013, confirming the strength of the buyer and the reversal of the resistance.
At the time of the press, the monetary flow of Chaikin (CMF) maintained 0.02, suggesting a slight accumulation, but not enough to support a bullish reversal.
Experts on Pepe Mamecoin
Cryptacrypto1 crypto analyst shared on X that Pepe “should sweep tomorrow or day after” before recovering – involving a possible false and rebound configuration.
Source: X
Chain data supports prejudices fucked
The recent investors activity has further strengthened these lowering prospects.
According to CorciLass, the exchanges recorded 1.92 million dollars at Net pepe entries in the last 24 hours, which suggests that the holders are preparing to sell.
Source: Coringlass
At the same time, derived data reveal a clear short bias. Traders opened $ 10.85 million in exposed positions at $ 0,0000,1248, almost double the $ 5.92 million long at $ 0.00001,152.
Together, the entries and the leverages effect suggest that traders and investors expect a new short -term drop.
