\nA downside breakdown from the triangle support trendline will intensify supply pressure in PEPE\t\t\t\t<\/p>\n
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Published 11 mins ago <\/p>\n
For over a week, the Pepe coin price<\/a> 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.<\/span><\/p>\n <\/p>\n Also Read: PEPE Price Prediction: Key Resistance Level to Watch Before Hitting $0.000001<\/a><\/p>\n 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.<\/span><\/p>\n Currently, the frog-themed memecoin<\/a> 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.<\/span><\/p>\n<\/blockquote>\n Therefore, the trader\u2019s 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.<\/span><\/p>\n <\/p>\n 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.<\/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>\nPennant Pattern Hints PEPE Price Poised for Major Correction\u00a0<\/b><\/h2>\n
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![\"PEPE](\"https:\/\/s3.tradingview.com\/snapshots\/j\/JGWd3bwY.png\")
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When should you enter Pepe Coin?<\/b><\/h2>\n
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