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š» Pepe Coin Price at Risk: Bearish Patterns Suggest a 35% Crash
Pepe Coin is facing strong selling pressure, with key technical indicators hinting at a significant drop. A bearish flag chart pattern, declining futures interest, and correlation with Bitcoin's price movements point to a potential 35% crash in the near future. Here's what you need to know:
š Key Patterns Suggest a Drop to $0.00001190
Pepe Coin has fallen below the critical 50-day EMA, a bearish signal.
A bearish flag chart pattern on the daily chart suggests a continuation of the downtrend:
If the pattern plays out, the price could drop to $0.00001437, and then to $0.00001190, a 35% decline.
The coin has also formed a double-top pattern at $0.00002563, creating strong resistance at higher levels.
š Futures Interest Plummets
Pepe Coinās futures open interest has dropped sharply, from $359 million earlier this month to $123 million, its lowest level since November.
This decline signals reduced demand, which could accelerate the sell-off.
š Bitcoin's Influence on Pepe Coin
Like most altcoins, Pepe Coinās price is closely tied to Bitcoin.
If Bitcoin continues its recent decline, Pepe Coin is likely to follow suit.
šØ Levels to Watch
Bearish Targets:
$0.00001437 (short-term support)
$0.00001190 (key support level, 35% lower)
Bullish Reversal Point:
$0.000020 (key resistance above the 50-day EMA)
š” Whatās Next?
Pepe Coin is at a critical juncture. While bearish signals dominate, a breakout above $0.000020 could invalidate the downtrend and push the price higher. Keep an eye on key levels and market trends to stay ahead in this volatile market. What is your thought š¤ š#PEPE #BTC #BNB #Binance #ETH $PEPE