Oh, dear Pepe, with a bearish symphony resonating as you continue to spiral downward, shedding yet another 2% in 24 hours. It seems your high of December has sunk nearly 21%, a melody sung in a minor key.
Meanwhile, Bitcoin‘s 5% crescendo from Friday’s $85.5k to Monday’s $89.7k has not managed to mount a rescue for those bullish guardians of the memecoin. 🦊💸
As the Coinalyze notes painstakingly noted, since the dawn of December’s 20th, Open Interest played its swan song, dwindling from $121.5 million to $114.5 million. Such a gentle diminuendo intertwined with sideways price movements-what angular penumbra this suggests!
A recent sonata of reports relegated the long-term Pepe trend into a bearish adagio-a song not disproved since its composition, dear listeners. Below, we dive into what Pepe [PEPE] traders should contemplate amidst this cacophony.
The Tragic Strength of the Bearish Choreography
In a cosmic rupture of musical timing, last week under the gaze of December’s 17th shone a bearish structure transition, born from the $0.000044-$0.000050 supply zone (our red box). A reappearance of this zone would meet a bitter rejection, as the bearish momentum commands, with the RSI chiming its somber tune of 40.
Furthermore, the A/D plays its lamenting aria, unbroken since November’s start-a subtle motif of constant selling pressure.
The 1-hour stage too bears obstinate shadows, with the RSI drawn toward the bear and the A/D’s prolonged descent underscoring relentless selling efforts.
Exploring a Glimmer of Bullish Fancy
This dramatic turn remains elusive on the stage of likelihood in the days to come. Whether it be across diverse scenes or spotlight, the prevailing tempo and tumult seem muted to bearish verse. Bitcoin’s 5% leap has not unsung its talking point under Pepe’s roof. 🦁🔄
Traders’ Encouraged Overture: Stay Bearish
The 1-hour scroll reveals that a bounce to $0.0000420 would tempt as a selling chance. Should this point take a supportive turn, next lay the Fibonacci arabesques, patiently plotted as $0.0000452 and $0.0000476.
Final Thoughts
- In this intricate dance, the Pepe price action boldly remains in the bear’s shadow, impervious to Bitcoin’s recent melody.
- Behold the triptych of short-term resistance heights that await Pepe’s unwavering bearish chorus in coming acts.
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2025-12-23 04:12