Pepe Closed Below MA200 (Healthy Correction)
2024-10-03

Looking at this chart, we have rising bearish volume as well as a break below MA200... There is room for lower prices.

Good night my fellow supporter, we are doing good today.

A healthy correction means that the low price that is hit during the process remains within normal and expected boundaries. PEPEUSDT grew like crazy in 2024 and its first correction pierced only the 0.618 Fib. retracement level. The 0.786 remains unchallenged. A lower low in a new drop can easily hit this level without disturbing the long-term bullish structure at all. This is the level that was tested in April 2024. On the other hand, knowing Cryptocurrency, this level can break and this spells doom because it would mean something simply crazy. This is called speculation. Let's focus on the chart.

After a mild rise, we have bearish signals and market wide bearish action. A continuation of the bearish move is possible. If this continuation takes place, the orange lines on the chart are the most likely levels where PEPEUSDT will find support.

Thank you for reading.

Namaste.