\nThe Pepe price failure to sustain a $0.00000078 support breakdown hints at a significant upswing ahead\t\t\t\t<\/p>\n
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![\"PEPE](\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/09\/02180153\/PVHYJcc4-e1693657934752.png\")
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For over a week, the Pepe coin has traded with a narrow range created from the price extreme of the August 25th candle. As per this daily candle, a high of $0.00000095 and a low of $0.00000078 stand as strong resistance and support for coin traders. With the recent downturn in the crypto market, the PEPE sellers showed a breakdown attempt from the pattern\u2019s support trendline as a signal to continue the downward projection.<\/span><\/p>\n <\/p>\n Also Read:\u00a0 Pepe Coin, DYdX Awaits To See Bulls, Amidst TON Coin Facing Gains<\/a><\/span><\/p>\n On September 1st, the falling Pepe coin price<\/a> gave a massive breakdown from the range support of 0.00000078 with a significant red candle. Losing this support signals the replenished bearish momentum and sellers\u2019 motive to continue to the prior downtrend.<\/span><\/p>\n However, today the PEPE price showed a gap up in the daily chart and entered the range levels. The seller\u2019s failure to offer a suitable follow-up to the bearish breakdown reflects some weakness in their conviction.<\/span><\/p>\n<\/blockquote>\n If by the day\u2019s end, the frog-themed meme closed above 0.00000078, the prior breakdown would be a bear trap<\/a>, which may in response bolster the crypto buyers.<\/span><\/p>\n <\/p>\n In technical analysis, a bear trap is formed when the asset price gives a false indication of potential downward movement, but immediately reverts the price higher to trap heist sellers. Therefore, the PEPE price false breakdown from $0.00000078 will flip the price as viable support to surge the memecoin to $0.00000095<\/span><\/p>\n \n Share this article on:<\/p>\n –><\/p>\n Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading <\/p>\n<\/p><\/div>\n The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\nFake Breakdown Scenario Hints at a Potential Upswing<\/b><\/h2>\n
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![\"PEPE](\"https:\/\/s3.tradingview.com\/snapshots\/p\/PVHYJcc4.png\")
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Will PEPE Price Regain the $0.0000009 mark?<\/b><\/h2>\n
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