Is PEPE on the Brink? A Sharp Fall Amid Bitcoin Weakness!
Updated
Yello Paradisers! Are you prepared for the latest insights into #PEPEUSDT’s sudden price movements? 🚨 Let's dive in!
💎#PEPE was already in a descending channel, indicating weakness. This weakening has resulted in a price breakdown below the descending support level of 0.00000705.
💎However, PEPE is currently seeing firm support levels ranging from 0.00000640 to 0.00000595. These levels are now causing some lower time frame reactions. Yet, due to the selling pressure, bulls must endure much more before any recovery can be realized. Meanwhile, in any extended movements, PEPE may detect the lower support level of 0.00000485. The slingshot effect will be harder the more sellers stretch the price.
💎On the upside, the recovery might first aim for the descending support at 0.00000705, which is now a resistance level. Successfully regaining this level can result in panic short-coverings, which can quickly provide a significant surge. This spike might cause the price to aim all the way to 0.00000770, then 0.00000880.
Paradisers, strive for consistency, not quick profits. Treat the market as a businessman, not as a gambler.
MyCryptoParadise
iFeel the success🌴
💎#PEPE was already in a descending channel, indicating weakness. This weakening has resulted in a price breakdown below the descending support level of 0.00000705.
💎However, PEPE is currently seeing firm support levels ranging from 0.00000640 to 0.00000595. These levels are now causing some lower time frame reactions. Yet, due to the selling pressure, bulls must endure much more before any recovery can be realized. Meanwhile, in any extended movements, PEPE may detect the lower support level of 0.00000485. The slingshot effect will be harder the more sellers stretch the price.
💎On the upside, the recovery might first aim for the descending support at 0.00000705, which is now a resistance level. Successfully regaining this level can result in panic short-coverings, which can quickly provide a significant surge. This spike might cause the price to aim all the way to 0.00000770, then 0.00000880.
Paradisers, strive for consistency, not quick profits. Treat the market as a businessman, not as a gambler.
MyCryptoParadise
iFeel the success🌴
Note
Boom! #PEPE is doing just what we said. Up 13.5% and looking good!Now Bulls need to break this newly established descending resistance to have a go higher and unveil further aggressive short-coverings.
Trade closed: target reached
Nailed it again - #PEPE is up 39.50%, right on cue!
Price has bounced back just as expected. Now caution is advised once again as key resistances are approaching fast.
The short-coverings could still surprise further, as a result sellers are advised to be cautious of fresh short-positions.
The only serious crypto trading company on the web⏐MyCryptoParadise.com
FREE Telegram Channel - t.me/+skqKdwnfH2xmNTU0
Get FREE Market Insights or start trading like a PRO inside ParadiseFamilyVIP🎖️
FREE Telegram Channel - t.me/+skqKdwnfH2xmNTU0
Get FREE Market Insights or start trading like a PRO inside ParadiseFamilyVIP🎖️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.