Crypto News – The majority of the main coins, including PEPE, are being significantly impacted by the pre-halving consolidation in the price of Bitcoin.
Pepe Coin Price Rises 2.98% as Bitcoin Halving Approaches
For the previous four days, this memecoin with a frog theme has fluctuated sideways, with short-bodied candles signifying a lack of initiative from either buyers or sellers. On the other hand, the asset nearing a critical support level during the Bitcoin halving event suggests a greater chance for a fresh rebound.
The price of Pepe coin has been steadily declining for more than a month, creating new lower highs and lows on the daily chart. By joining these swings with trendlines, a channel pattern was formed, which is a typical technical configuration that precedes an impending breakout and indicates an ongoing decline.
The PEPE coin might extend its drop by 25% to reach the lower trendline of the channel pattern at $0.0000035 if the selling pressure continues. However, the trading dynamics of PEPE currency are expected to be significantly impacted by the impending Bitcoin Halving and Coinbase Advanced’s planned launch of the 1000PEPE-PERP markets.
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