Pepe coin price has experienced a sharp crash, undoing most of the gains made earlier this month when it surged to a record high. While the price has stabilized in the past few days, a rare chart pattern on the daily chart points to a potential 35% crash. Pepe’s open interest in the futures market also points to more downside in the near term.
Pepe Coin Price Bearish Flag Points To More Downside
The Pepe Coin price is grappling with substantial bearishness, and it has crashed below the 50-day Exponential Moving Average (EMA) on the daily chart. This crash happened after the coin formed a doji candlestick chart pattern on December 9 when it hit a record high. A doji is a reversal candle made up of a small body and long upper and lower shadow,
Pepe price is now slowly forming a bearish flag chart pattern, a common continuation sign. This pattern has a long vertical line that resembles a flag pole. A small rectangle-like consolidation follows it, often resulting in a strong bearish brea
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