PepeCoin (PEPE) price action points to a potential 70% drop
A bearish chart pattern suggests that PEPE could shave off another 70% in value, especially if the wider market continues to trend down. Pepe (PEPE) price has dropped by more than 70% three weeks after establishing its record high of $0.00000449. And the memecoin could fall even more in the coming days, according to a mix of technical and fundamental indicators. PEPE charts flash a classic bearish reversal pattern From a technical standpoint, the price of PEPE could drop sharply from its current levels. At the core of this bearish outlook lies the classic head-and-shoulders (H&S) pattern. Analysts who use technical analysi view the H&S pattern as a bearish reversal indicator for the unversed. It forms when the price forms three peaks atop a common neckline support; the middle peak, called "head," is higher than the other two, called the "left shoulder" and "right shoulder." Head-and-shoulder breakdown illustrated. Source: Forex Academy The H...
