Will $PEPE Price Lose $0.000001 Support this Week?

Pepepcoin Price Analysis: Decoupling with the ongoing recovery phase within the crypto market, the frog-themed memecoin PEPE is falling for three consecutive days. Amid this downfall, the coin price broke below the lower trendline of the symmetrical triangle pattern, indicating the coin price is poised for further downfall. Here’s how this pattern could influence the future trend of Pepecoin.

Also Read: Pepe Craze Enters NFT; Bitcoin Frogs Takes Top Spot

PEPE Price Daily Chart 

• A breakdown below the triangle pattern accelerates the underlying selling pressure in the PEPE price. 
• The coin holders can expect significant demand pressure at $0.00000132
• The 24-hour trading volume in the Pepecoin coin is $104.5 Million, indicating a 7.06% loss.

Source-Tradingview

Amid the recent uncertainty in the crypto market, the PEPE coin price resonated between converging trendlines which showcased the formation of the symmetrical triangle pattern. On May 29th, the coin price gave a bearish breakdown from the pattern’s support trendline projecting the bear’s sustained trend control.

The post-breakdown fall tumbles Pepecoin 6% to currently trade at $0.00000136. As of now, local support halted the falling price at $0.00000132 and undermined the bear’s charge. However, if the selling momentum persists, a flip of the aforementioned support into viable resistance will intensify the supply pressure.

Considering a pessimistic scenario, the Pepecoin price could revisit $0.000001 in the early weeks of June.

Will Pepecoin Price Plunge to $0.000001?

A breakdown below the triangle pattern hints at the resumption of the prevailing downtrend. In theory, the early targets for the potential downfall are swing lows formed during the development of the pattern. Thus, the PEPE price is likely to witness demand pressure at $0.00000132, followed by directly at $0.000001

• Exponential Moving Average:: Over a week, the 50 EMA slope offered dynamic resistance to rising prices and has maintained a steady downtrend.
• Vortex indicator: A wide gap between the negatively aligned VI+ and VI- slope reflects the aggressive bear trend in Pepepcoin.