Pepe Coin Price Chart Points to a 190% Surge, But There’s a Catch

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Pepe Coin: The Rollercoaster Ride of the Century! 🎢💸

Ah, dear reader, gather ’round as we embark on a tale of the illustrious Pepe Coin, which has taken a nosedive so spectacular that one might think it was auditioning for a part in a slapstick comedy! For five consecutive weeks, this cheeky little coin has been on a downward spiral, shedding over 65% of its value like a dog shedding fur in spring. 🐶💨

Pepe Coin Price is Bullish: Livermore Speculative Chart

Now, before you toss your hands up in despair, let us not forget that the Livermore Speculative Chart has whispered sweet nothings of a potential rebound in the coming weeks. If it were to soar back to its all-time high, we could be looking at a staggering 190% increase! But, as with all good things, there’s a catch—like finding a fly in your soup. 🥴

Pepe Coin, the third-largest meme coin in the crypto circus, has plummeted from a dizzying height of $0.00002830 in December to a rather dismal low of $0.0000080. Quite the fall from grace, wouldn’t you say?

Our dear friend Daze, a crypto analyst of some repute, has pointed to the Livermore Speculative Chart (LSC) as a beacon of hope, claiming it has hit a crucial support level. The LSC, you see, is a chart structure inspired by the legendary Jesse Livermore, who was as famous for his trading prowess as he was for his penchant for dramatic flair. The chart resembles a rising broadening wedge, which, if you ask me, sounds more like a fancy sandwich than a bearish sign! 🥪

Daze is convinced that Pepe has now reached the seventh phase of this chart, which, if all goes according to plan, will lead to a robust rebound. However, do keep your hats on, as this rebound may take its sweet time—weeks or even months, as the weekly chart tends to be as slow as molasses in January. 🐢

Pepe Price Daily Chart Calls For Caution

Now, while the long-term chart may be waving a bullish flag, the short-term is a different kettle of fish altogether. Recent events have unfolded like a poorly scripted soap opera, with three significant developments that have left investors scratching their heads.

First, our dear Pepe has formed a head and shoulders pattern—a classic bearish reversal sign that explains its recent plunge. It’s as if the coin decided to don a dramatic hat and cape before taking a dive off the deep end! 🎩

Second, we have the infamous death cross pattern, which sounds more like a horror movie than a trading term. This occurs when the 50-day and 200-day moving averages cross paths, and in this case, they’ve done so with all the grace of a hippo on a tightrope. 🦛

Third, Pepe has dropped below the 61.8% Fibonacci Retracement level, where most rebounds are expected to occur. It’s like missing the bus just as it pulls away—oh, the tragedy! 🚍

Should the downward trend continue, we might see Pepe tumble to the key support at $0.000006730, the 78.6% retracement level. Conversely, a rebound could catapult it to the 38.2% retracement at $0.00001784. It’s a veritable game of financial hopscotch, and one can only hope for a favorable bounce! 🎉

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2025-02-06 16:55