PEPE/USDT – 4H – SELLThe currency pair Pepe/Tether (PEPE/USDT) jumps from the bullish trendline down.
A descending movement down to the next support at 0.000012650 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.000014330 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Last Engulfing Top’ candle chart pattern is discovered. The candles form ‘Last Engulfing Top’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.000016110 |
| 2nd High | 0.000015120 |
| Next High | 0.000014330 |
| Current Price | 0.000013950 |
| Next Low | 0.000012650 |
| 2nd Low | 0.000011660 |
| 3rd Low | 0.000009430 |
0.000014330 – 0.000013370 – 0.000013270 – 0.000012650 – 0.000011660 – 0.000009430
Trading Signals: FOREX – PEPE – PEPE/USDT – USDT – Last Engulfing Top –