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A well-known crypto strategist, closely followed by many, predicts a significant downward movement for a Dogecoin (DOGE) competitor due to the emergence of a bearish pattern. The analyst, known as Kaleo, shared on the social media platform X that Pepe (PEPE) may retrace recent gains, potentially dipping by over 16% from its current value. Kaleo believes that Pepe is breaking out on the low time frame (LTF), suggesting a potential return to previous highs. Examining his inverted price chart, he points to a double-top bearish pattern forming, indicating a possible revisit to the $0.00000061 price level. Pepe is trading at $0.00000073 at the time of writing, reflecting a 4.5% increase over the last 24 hours. Additionally, Kaleo expresses optimism about Bitcoin ( ) but the likelihood of price until a convincing emerges next year. He recommends accumulating during price dips, noting that the next six months’ developments are essentially distractions before the real excitement begins in 2024/2025. Bitcoin’s current trading price is $26,236, with a marginal 0.1% decline over the past 24 hours. Lastly, Kaleo observes that Solana ( ) is displaying relative weakness compared to Bitcoin. He mentions not witnessing the desired follow-through in a recent bounce and anticipates a revisit to the 2023 lows. The SOL/BTC trading pair is currently valued at 0.00072 BTC ($18.98) as of the time of writing.
Read more: coinspress
