Pepe Down 8% In A Single Day, But Trader Calls It ‘Healthy’: What Is Going On?
Posted On October 2, 2024
Pepe (CRYPTO: PEPE) is down 8% on the day but traders remain convinced the meme coin looks fundamentally solid and primed for more upside.
What Happened: Crypto trader Davie Satoshi shared his analysis of PEPE’s market performance, saying that a technical indicator shows bearish momentum. According to the trader, this explains the recent dip.
He sees two strong support lines that he expects to hold, constituting a healthy consolidation phase before further upside. The trader marked three key resistances on the chart:
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