🐸 PEPE/USDT Potential double top formation, but key details are missing for full confirmation. Here's the analysis:
📈 Key Observations:
1. Peak Structure:
- First Peak: ~$0.00001362 (highest point visible).
- Second Peak: ~$0.00001307 (lower high).
- Valley (Trough): ~$0.00001243 (current price).
2. Breakdown Signal:
- The price ($0.00001243) has fallen below the valley between the two peaks, a critical trait of double tops.
- It also broke below the 7-period MA ($0.00001271), reinforcing bearish momentum.
3. Volume Context:
- Current 24h volume is 24.53T PEPE (high), but the 5-period MA volume (4.45T) exceeds current volume (2.37T). Declining volume after the second peak would strengthen the pattern — this isn't visible here.
4. Neckline Missing:
- The screenshot doesn't show a clear neckline (support level connecting the lows between peaks). Without this, the pattern isn't fully confirmed.
5. Bearish Indicators:
- -3.79% daily drop.
- Price is below key MAs (7-period > 25-period > current price).
- RSI data isn't shown, but the drop aligns with double top behavior.
Conclusion:
✅ Likely Double Top – The two distinct peaks, lower high, and breakdown below the trough are present.
⚠️ Unconfirmed – Missing neckline breach and volume validation.
Next Steps:
- Monitor if price holds below $0.00001220 (24h low = neckline proxy).
- A close below this level with rising volume would confirm bearish reversal.
- Watch MACD/RSI for divergence (not visible in your data).
Meme coins like PEPE are volatile, so use stop-losses. Always cross-verify with full chart tools. 🐸