PEPE Price Prediction: Bearish Flag in $PEPE Chart Signal a 10% Downturn
For over a week, the Pepe coin price has not witnessed any initiation from buyers or sellers, leading to sideways action in the daily chart. The candlestick with a long wick and tail on either side reflects the indecisive nature of the market. However, a look at the 4-hour chart shows the consolidation is narrowing with two converging trendlines to make a triangular structure. After the August end drop, this triangular setup shows the formation pennant pattern.
Also Read: PEPE Price Prediction: Key Resistance Level to Watch Before Hitting $0.000001
Pennant Pattern Hints PEPE Price Poised for Major Correction
- A downside breakdown from the support trendline will set the prices for a 10% drop
- The coin price trading below the 4-hour chart EMAs(20, 50, 100, and 200) indicate
- The 24-hour trading volume in the Pepe coin is $39 Million, indicating a 23% gain.
Source- Trading
Despite a lurking uncertainty in the crypto market, the PEPE price strictly resonates between the two converging trendlines. With this triangular pattern intact, the coin price may continue to walk laterally for the coming days.
Currently, the frog-themed memecoin trades at $0.00000078, and with an intraday loss of 3.78% it retests the lower trendline. The continuation of the previous downward move is confirmed when the price breaks below the lower trendline of the triangle.
Therefore, the trader’s bearish on Pepecoin can cause a breakdown as an opportunity to short-sell. With this development, the coin price could tumble 10% to retest the $0.0000007 psychological support.
When should you enter Pepe Coin?
The bearish pennant pattern is a continuation pattern found commonly in an established downtrend. Though the formation of this pattern suggests extended downfall, interested traders must for a downside breakdown as a possible upside break will invalidate the selling thesis. Therefore, the range within the triangle can be considered a no-trading zone.
- Average Directional Index: The downsloping ADX slope reflects weakness in bullish momentum.
- Exponential Moving Average: The overhead 50 EMA slope acts as strong resistance to the PEPE price
- Grayscale’s GDLC Fund Holding SOL and ADA Gets SEC Nod for NYSE Debut
- Crypto Market Rally: Will Bitcoin Catch Up With S&P 500 Gains After Fed Rate Cut?
- Ripple Partners DBS, Franklin Templeton To Launch Trading And Lending Backed by RLUSD
- XRP, SHIB, HBAR Among 15 to Get Faster Crypto ETF Approval Under SEC’s New Rule
- ‘Great Progress’: Cardano Founder Shares Update After CLARITY Act Roundtable
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
- SHIB Price Forecast: Taker Buys Lead as Developers Counter Shibarium Exploit
- Solana Price Set for a 25% Jump as Open Interest Nears a $20 Billion Milestone
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
