PEPE/USDT – 1H – SELL

The currency pair Pepe/Tether (PEPE/USDT) moves from the descending trendline downwards

A continuation of the downtrend downwards to the next support line at 0.000011780 is expected.

Caution: A possible counter-trend in the direction of the resistance line at 0.000013150 should be noted.
Consider stop-loss settings accordingly.

Next a ‘RSI fall below 30’ indicator signal is detected. The indicator shows ‘RSI fall below 30’. which could be a negative chart signal. The currency pair is likely to fall.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.207318E-5 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support level at 0.000013150 should be noted.
Consider stop-loss settings accordingly.

Next a ‘On Neck’ candle pattern is found. The chart shows ‘On Neck’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).

0.000013150 – 0.000012780 – 0.000012740 – 0.000012340 – 0.000011780 – 0.000011850 — 33.646179363467 – 32.142381683568

Trading Signals: CRYPTO – PEPE – PEPE/USDT – USDT – On Neck – Double top chart pattern –