$PEPE Pepe M Pattern Warning ๐จ๐ธ | Market Looks Shaky at Resistance Levels ๐๐ฅ
๐ธ Pepe just painted a classic M pattern on the charts โ and that could spell trouble ahead if support fails! โ ๏ธ๐
๐ The double-top structure hints at growing sell pressure near recent highs ๐ป๐ฐ. After testing resistance twice, the rejection shows bulls may be losing steam, with buyers getting exhausted ๐ตโ๐ซ๐. Right now, this is a textbook sign of potential trend reversal or cooldown.
๐ Indicators confirm the caution: RSI is flattening ๐๐ and momentum has slowed drastically. No major volume spikes from bulls, while red candles suggest distribution phase is creeping in ๐ฅ๐ฅ๐ฅ. If the neckline breaks, it could open the gates to further downside ๐๐งจ.
๐ณ On-chain, whale distribution is subtly rising ๐๐ฆ. A few top wallets are sending Pepe to exchanges โ a bearish sign, especially when exchange balances are climbing ๐ฆ๐จ. These are often pre-dump signals.
๐ฑ Social sentiment is cooling too โ Pepe memes have gone quiet, and FOMO seems to be drying up ๐ง๐. Wallet growth slowing adds to concerns, showing fewer new believers joining the frog army ๐ธ๐ผ.
โ๏ธ Itโs not all doom, but this is the moment to manage risk. If bulls can defend key levels, Pepe could bounce โ but if that M neckline gives way, expect fireworks on the downside. Patience pays off, and waiting for clear signals is key ๐๐ง .
๐ฅ Stay alert, because M patterns don't lie, and this chart demands respect. Eyes on the next move โ Pepe could surprise either way! ๐๐ฃ
โ ๏ธ Not financial advice โ always DYOR ๐ง ๐