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After a long period of low volatility, PEPE’s price action changed on Monday when the SEC sued Binance. The price quickly moved up and down by over 30% and, in the process, made a new low. This has created a large descending triangle which could be interpreted as bearish.
The current support is at $0.0000010, and the resistance is at $0.0000013. With the price quickly approaching the apex of this formation, PEPE could make a major move in the next few days.
It’s likely that the volatility to be high in the next few days, with a breakout from this triangle appearing imminent. Buyers have to do all they can to defend the key support at $0.0000010. Any failure there would open the way for PEPE to fall much lower and towards $0.0000005.
Source : Crypto Potatoe
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