Pepe (PEPE) Faces Further Correction
Pepe (PEPE) has broken below a critical neckline support, confirming the formation of a head-and-shoulders pattern. This technical setup often signals a continued downturn in price.
Price Target and Current Performance
- An analyst projects a downside target of $0.00000185 for PEPE.
- At the time of reporting, the price is around $0.00000558.
- The coin has experienced a weekly decline exceeding 17%.
"Pepe (PEPE) has broken below a key neckline support, completing a textbook head-and-shoulders pattern. The move suggests further downside risk."
This pattern highlights the potential for another painful correction following the recent price drop.
Summary: The confirmed head-and-shoulders pattern indicates heightened risk for Pepe (PEPE), with significant further declines likely ahead.