A preferred cryptocurrency dealer predicts a continued downtrend for PEPE

• Michael van de Poppe not too long ago shared his expectations for AVAX and the favored meme coin PEPE.
• In his tweet, the dealer defined that AVAX has a powerful likelihood of upside if it will possibly maintain above $14.80.
• However, van de Poppe revealed that PEPE will face a good greater drop in worth if it can not break above $0.0000016.

Distinguished crypto dealer and analyst Michael van de Poppe revealed in two tweets yesterday that he actually likes Avalanche (AVAX), however he does not assume the identical might be mentioned for the trending meme coin Pepe (PEPE). In response to by submitvan de Poppe believes that PEPE’s present downward pattern is prone to proceed within the coming days.

The dealer additionally shared that every resistance block on the meme coin’s chart is an space the place PEPE is shorting. If the worth of PEPE fails to achieve the essential $0.0000016 stage, van de Poppe prompt that this could create an important shorting alternative. He added that merchants can proceed to quick PEPE till it falls to $0.00000147 and even $0.00000115.

At press time, PEPE was buying and selling beneath the $0.0000016 stage and at $0.000001568, based on information from CoinMarketCap. This comes after the worth of the meme coin fell by 0.40% within the final 24 hours, which additionally boosted PEPE’s weekly efficiency to -6.88%.

However, van de Poppe identified the large distinction in AVAX’s longer time slot help in a separate submit. in a tweet. The dealer defined that the altcoin’s subsequent transfer will doubtless rely on what Bitcoin (BTC) does subsequent. Nevertheless, he believed that if AVAX may rise above $14.80, it may result in a powerful affirmation of the bullish divergence.

At press time, AVAX was one of many cryptocurrencies buying and selling within the inexperienced after a 2.97% enhance in worth over the previous day. In consequence, AVAX traded just under the vital $14.80 stage at $14.78.

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