The weekly chart shows $PEPE reached an all-time high of $0.00002815 in December before dropping to a low of $0.000005678.
The token has since formed a head-and-shoulders pattern, with the head at the peak and the shoulders around $0.00001700. The neckline sits at $0.000005678.
🎯If the pattern holds, a breakdown below the neckline could push the price down by roughly 80%, targeting $0.000001092, a level last seen in February of the previous year.
✅However, if Pepe rebounds and surpasses the right shoulder at $0.00001700, the bearish outlook would weaken, potentially opening a path back toward its previous highs. #FOMCMeeting
TODAY THE SHORT RATIO CONTINUES TO INCREASE, PUTTING PRESSURE ON LONGS. THE MORE SHORTS INCREASE -> THE MARKET GETS CLOSER TO PEAK 1 - Most coins have already reached peak 1 and have decreased to the MA20 on the daily chart, then increased to form peak 2 - Most coins have not yet risen back to peak 1 - The short ratio is increasing and rising high -> The market is approaching peak 1 faster. - Will the coins surpass peak 1? We need to continue observing #BinanceHustle #CryptoRewards #USDCgang #PassiveCrypto #Post2Earn
TODAY THE SHORT RATIO CONTINUES TO INCREASE, PRESSURING LONGS. THE SHORTS ARE INCREASING -> THE MARKET IS MOVING CLOSER TO PEAK 1 - Most coins have already reached peak 1 and then dropped back to the MA20 on the daily chart, then increased to create peak 2 - Most coins have not yet increased back to peak 1 - The short ratio is increasing and rising high -> The market is approaching peak 1 faster. - Will the coins surpass peak 1? We need to continue observing #BinanceHustle #CryptoRewards #USDCgang #PassiveCrypto #Post2Earn
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#BinanceTurns8 Join the #BinanceTurns8 anniversary celebration with us and receive a share from the BNB prize pool worth up to 888,888 USD! https://www.binance.com/activity/binance-turns-8?ref=GRO_19600_UA176
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#CryptoMeteorShower Awaiting the crypto meteor shower to celebrate #BinanceTurns8! https://www.binance.com/activity/binance-turns-8?ref=GRO_19600_UA176