Peppe is transported from the high value area and is now moving towards a major dynamic support. This level has rapidly reversed history and the Nex can reduce the major step.
Summary
- PEPE faces short -term weakness after accepting over -time than the price area, actually indicating a possible change.
- Dynamic support and 0.618 fibonacci retracting are aligning, creating an important area for a potentially rapid inverted.
- Failure to hold this support can be a deeper right towards the value area, which can resume holding.
Pepe (Pepe) is indicating weakness after a strong Rali from high time fray support support. Price action first bounces from a conference area including dynamic support, a bullish order block and 0.618 fibonacci retracement. Volume was increased by increasing volume due to high resistance in the price area. Memcoin is now pulling back, and the next test of dynamic support may be important to maintain wide uptrend.
Major technical points
- Price area high rejection: After the volume-supported Rali failed to break the price through resistance.
- Dynamic support test further: The trendline aligns with 0.618 fibonacci retracement.
- The matter of control lost: The value has accepted below the POC, an intensive improvement may be indicated.
After a strange Rali from dynamic support, the Pepe ran into resistance to the high value area and was rejected. This zone marked a clear hat on recent efforts, and the value has at least flow. Rejection came upwards despite a volume-supported trick, suggesting that the sellers are still drowning at this stage.
The price is now trading under the points of control, indicating access to the low price area. Historically, it is a negative side until a strong support level is retained. The next major level to view is the dynamic support trendline, which interfere with the level of 0.618 fibonacci, which is to reduce swing more than rental swing. This zone overlaps with a prevalently rapid order block.
If the bulls step again at this stage, it will mark another high low in the broader structure. This will preserve the overall bias and set a potential step back which is high. However, the dynamic support shifts a breakdown market structure under the couch and exposes deep losses towards the price to Paype.
What is expected in the upcoming price action
The price soon likes to see dynamic support again. If it holds it, another raly tweed fare is high possible. If it breaks, expect a decline in the lower price area. The volume will confirm the direction.
