Common Crypto Dealer Predicts Continued Downtrend For PEPE

• Michael van de Poppe not too long ago shared his expectations for AVAX and the favored meme coin PEPE.
• In his tweets, the dealer defined that AVAX stands a superb likelihood of a worth enhance if it may well keep above $14.80.
• However, van de Poppe revealed that PEPE will face even additional worth drops if it can’t keep above $0.0000016.

The famend crypto dealer and analyst, Michael van de Poppe, revealed in two tweets posted yesterday that he was bullish on (AVAX), however he believes the identical couldn’t be mentioned for the trending meme coin Pepe (PEPE). In response to the publish, van de Poppe believes that PEPE’s present downtrend is prone to proceed within the subsequent few days.

Request 03 – $PEPEThis chart continues the downtrend, which implies that each block of resistance is principally an space to brief, similar to the 160000 space.I might choose to see that reclaimed, if you wish to lengthy, in any other case brief till 147000 and 115000 and even 85000. pic.twitter.com/YqMjpENV54

— Michaël van de Poppe (@CryptoMichNL) Could 22, 2023

The dealer additionally shared that each block of resistance on the meme coin’s chart is an space to brief PEPE. If the value of PEPE fails to remain above the essential $0.0000016 degree, van de Poppe prompt that this is able to create the right shorting alternative. He added that merchants can proceed to brief PEPE till it drops to $0.00000147 and even $0.00000115.

PEPE worth (Supply: CoinMarketCap)

Information from CoinMarketCap indicated that, at press time, PEPE was buying and selling under the $0.0000016 degree at $0.000001568. This comes after the meme coin suffered a 0.40% worth drop over the previous 24 hours, which additionally pushed PEPE’s weekly efficiency even additional into the pink at -6.88%.

However, van de Poppe identified a bullish divergence in AVAX’s larger timeframe help in a separate tweet. The dealer defined that the altcoin’s subsequent transfer will seemingly depend upon what (BTC) does subsequent. Nonetheless, he did imagine that if AVAX can climb above $14.80, it may set off a robust affirmation of the bullish divergence.

AVAX worth (Supply: CoinMarketCap)

At press time, AVAX was one of many cryptocurrencies buying and selling within the inexperienced after a 2.97% worth enhance over the previous day. Because of this, AVAX was buying and selling just under the necessary $14.80 degree at $14.78.

Disclaimer: The views and opinions, in addition to all the data shared on this worth evaluation, are revealed in good religion. Readers should do their very own analysis and due diligence. Any motion taken by the reader is strictly at their very own danger. Coin Version and its associates is not going to be held accountable for any direct or oblique harm or loss.

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