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PEPE/USDT 1-Hour Timeframe – Potential Price Movement
📈 (This is not a trading signal) 📉
‼️ Trade at your own risk ‼️
PEPE appears to be forming a potential Rising Wedge pattern on the 1-hour timeframe. This pattern is typically considered a bearish indicator, as it often signals a potential reversal following an uptrend. A rising wedge suggests that although the price is moving upward, the momentum may be weakening, increasing the chances of a downward breakout. If the price breaks below the lower trendline, it could indicate a shift toward a bearish move, leading to a decline in price.
Traders should closely monitor key support and resistance levels within this pattern and watch for confirmation before making any decisions. Refer to the chart below for a detailed analysis of the pattern and possible outcomes.