While May was a very strong month for the cryptom market, in which Bitcoin even on May 22nd. A new all-time high at $ 111,970.17 was able to stall the courses again for about two weeks. And when the course of the largest and oldest cryptocurrency comes to a standstill, the courses of many other coins stumble directly. This is currently also true for $ Pepe, the 3. largest meme coin after market capitalization. In the past few days, the course has trained a so-called SKS formation, which is a clear trend reversal signal. But that’s just the tip of the bad news for $ Pepe.
(The course of $ Pepe has trained a SKS formation, which is a strongly bearish signal-source: Tradingview.com)))
Even bigger problems in the larger chart picture
However, the biggest problems for $ Pepe do not arise on the shoulder-head school formation (SKS) in the daily-type or through the purchase signal on the momentum indicator MACD, but by a completely different point. Namely a much larger and more important SKS formation that forms in the overarching time unit, i.e. the weekly chart.
(In the weekly Chart, an even larger SKS formation on $ PEPE-Source: Tradingview.com)))
In contrast to the smaller shoulder-head-shoulder formation in the dates, the large chart formation on W1 is not yet fully trained. A SKS formation is only considered a high-quality reversal signal if the so-called NeckLine has been broken. This is already the case in the daily type, but so far not in the large formation in the weekly chart. There is still a weak hope for $ Pepe. If the neck line breaks, the likelihood of a further loss of price is more than 90 percent.
The fact that the next support zone is also over 90 percent lower than the current price level will probably not really calm down $ Pepe investors. For investors, it is only to be hoped for that $ Pepe will form enough buying pressure in the next few weeks to put a quick reversal at high momentum. Alternatively, investors can of course also look around for other coins that have a significantly better chance risk profile than $ Pepe. A project that analysts are currently often called as a good alternative to weakening coins is Solaxy ($ Solx).
Last opportunity: Solaxy Presale comes to an end
Solaxy is a project that shocks the cryptom market before his official start of trade and captivates analysts. While experts roll over to the project with their forecasts, investors have invested vigorously.
In the meantime, a community of almost 100 investors on X and Telegram has formed around Solaxy. So Solaxy could put a rocket start down, which is due to the strong application. Solaxy is launching the first Layer 2 solution for Solana, which the Main Chain would soon be relieving significantly and could stabilize the entire ecosystem. The focus is on the $ Solx token, which is currently still available in advance.
(The Solaxy Presale ends in a few days-source: solaxy.io)))
Since there is not often the opportunity to invest in a new coin with new blockchain, the demand for the $ Solx token has already exploded. Investors have invested over $ 45 million in order to get in front of the stock market listing at an affordable fixed price. This puts Solaxy one of the most successful ICOs in crypto history, which is why analysts also arise from a strong start of stock exchange.
Get in on time now and buy $ Solx in the Presale.
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