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Price prediction: PEPE to Surge 20% in Price After Bear Trap

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Pepe price
Pepe price

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Pepe’s price failure to maintain a $0.00000078 support level suggests a significant upturn is imminent.

Having traded in a narrow range since the price extreme of the August 25th candle for over a week, the Pepe coin has been fairly stable for the past few days. Coin traders can view this daily candle as strongly supporting and resisting, as it has a high of $0.00000095 and a low of $0.00000078. Following the recent crypto market downturn, the PEPE sellers have attempted to break out of the pattern’s support trendline to continue their downward trajectory.

An Upswing Is Possible After a Fake Breakdown

The Pepe coin is currently in a sideways trend between $0.00000095 and $0.00000078. It is 15% more likely that PEPE will fall from $0.00000078 if a bearish breakdown occurs.

There has been an increase of 10.9% in Pepe coin trading volume over the past 24 hours, indicating a gain of $77 Million.

Source: Tradingview

A large red candle appeared on September 1st, which signaled a massive breakdown from the range support of 0.00000078 for the falling Pepe coin price. This loss of support signals that the bearish momentum has rebounded, and sellers are motivated to continue the preceding downtrend.

A gap up was seen in the daily chart of the PEPE price today; however, it has entered the range levels. It reveals some weakness in the seller’s conviction that they failed to provide a suitable follow-up to the bearish breakdown.

As long as the frog-themed meme closes above 0.00000078 by the end of the day, the previous breakdown may serve as a bear trap, boosting crypto buyers.

PEPE Price to Regain $0.0000009 Mark?

The bear trap in technical analysis occurs when the asset price provides a false indication of downward movement and then immediately reverses to trap heist sellers. In this scenario, the false breakdown of the PEPE price from $0.00000078 will serve as viable support for the memecoin to surge to $0.00000095.

RSI: A slope near oversold in the daily RSI suggests that a bullish reversal is increasingly possible. EMA: A downsloping 20-day moving average would provide additional resistance to bullish bounces.

PEPE Alternative – Wall Street Memes

Wall Street Memes is a low-cap crypto project in the current crypto market that can potentially replace Bitcoin. Aside from its community-centric attributes, Wall Street Memes is already gaining popularity among early birds looking for a profitable investment.

By establishing a community that can work together to raise WSM’s value on the price charts, Wall Street Memes is inspired by Wall Street Bets to turn WSM – its native crypto – into a wealth-generating asset.

Several finance-related memes with high engagement on social media platforms are helping to support this endeavor. There are over 260,000 followers on X (formerly Twitter) for the Wall Street Memes community, which is over 1 million strong.

The Wall Street Memes ICO (Initial Coin Offering) started in June 2023 and has raised more than $26 million. Those interested in investing in WSM today can do so at a discount price of $0.0337 before it goes live on multiple tier-1 exchanges within the next 25 days.

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