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PEPE price suddenly sudden bearish After breaking from the growing pattern of the triangle. In the airy of this breakthrough Critical level of resistance.
Bears threaten a 20% accident in the price of Pepe
Pepe’s price action quickly overturned from the stubborn to the bear, marked by a negative change in character (choch) after its break WZ as a template of a triangle. In particular, the pepe choch has been emphasized when the price broke below the previous support, which indicates a significant structural change to the bear zone, because the buyers lose their rush.
According to the nickname TradingView analyst “Mycryptoparadise”, Bears could take control of the price of pepe When it approaches the key resistance zone at 0.000008 USD. The analyst suggested that if the meme coin does not fail above resistance, it could cause a 20% failure to lower support.
The first petite level of support after USD 0.0000065 is highlighted on the green line on the price chart of the analyst. Should Bear rush Maintenance, Pepe may fall further, stopping overdue buyers and expanding the correction phase. The analyst indicated a much deeper support zone of USD 0.0000055, serving as a key defense against a stronger price division.
Main supporting factor Forecast PEPE price disaster It is to compensate for its key level of resistance with several bear elements. The price chart of the Analytics TRADINGVIEW shows that Pepe 0.000008 USD resistance comes to 200 interpretation of the movable medium (EMA), which works like lively resistance. 200 EMA is often a reliable indicator of long -term trend changes, and its overlapping with resistance increases the bears of perspective.
The resistance also coincides with Fair gap (fvg)A region in which liquidity remained unverified, which suggests that the price can be downloaded back to fill this gap. Finally, the level of critical resistance pepe is crossed with the golden zone of Fibonacci, which is a key level of withdrawal, in which the price reversal often occurs, additionally signaling the potential for deterioration of the economic situation.
Potential breakthrough scenario
While “MycrypttoparaDise” displays a 20% correction of the PEPE price, which is currently 0.00000698 USD, also shared Possible stubborn scenario in which the coin surprises salesmen with a breakthrough up. The TradingView analyst predicted that if Pepe managed to close the candle above the resistance of 0.000008 USD, his bears can be completely annulled.
In this case, the market should predict Continuation of the magnificationAt the next target price of potential reaching USD 0.0000085 and more. However, for the bulls to pierce this level of resistance, powerful volume and momentum are required. If it is included The price of pepe is still redThis stubborn scenario seems to be a less likely scenario for now.
A distinguished picture from Adobe, chart from TradingView.com
