A Bearish Outlook for Pepe (PEPE)
A well-known crypto strategist, Kaleo, has made a prediction regarding a potential downward move for Pepe (PEPE), a rival of Dogecoin (DOGE). Kaleo suggests that Pepe could retrace recent gains and experience a dip of more than 16% from its current value. By analyzing an inverted chart, Kaleo identifies the formation of a double-top bearish pattern and believes that Pepe will revisit the $0.00000061 level. Currently trading at $0.00000073, Pepe has seen a 4.5% increase in the last 24 hours.
Bullish Outlook for Bitcoin with Expected Volatility
Despite the bearish outlook for Pepe, Kaleo remains optimistic about Bitcoin (BTC) and advises investors to stack heavily on dips. While he predicts price volatility in the near future, he anticipates a convincing bull market next year. Bitcoin is currently trading at $26,236, experiencing a 0.1% decrease in the last 24 hours.
Weakening Performance of Solana Against Bitcoin
Kaleo also notes that Solana (SOL) is showing weakness against Bitcoin. He expresses disappointment with the lack of follow-through in its recent bounce and hopes for a quick reclaim of .0008 on the BTC pair for bullish continuation. Currently short on Solana, Kaleo expects a revisit of the 2023 lows. SOL/BTC is trading at 0.00072 BTC ($18.98) at the moment.
Hot Take: A Bearish Prediction for Pepe and Weakness in Solana
According to crypto strategist Kaleo, Pepe (PEPE) is likely to experience a significant correction, while Solana (SOL) is showing weakness against Bitcoin. While these predictions may cause concern for investors, it’s important to consider the volatility of the crypto market and make informed decisions based on your own analysis and risk tolerance.
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