Cryptocurrency analyst and merchant ALI Martinez warns that the highest memo, the highest memo in the market downturn, can drop significantly.
Martinez tells 128,900 followers in social media platform X that it is classified under the lower boundary of parallel channels that have been traded for nearly a year, and then “try to collide.”
“From March 2024, PEPE will fall to a low support trend and go up to the top resistance line. At this level, PEPE tends to return to a low support trend line and rebounds here. But today PEPE is broken under the support trend line. Now, due to the surge in sales pressure, the PEPE can be pushed to 70%price modification, with $ 0.00000316. ”
The parallel channel suggests that assets are traded in an increase in the trend, and the highest and high lowest levels are printed. The interruption under the diagonal trend of the channel indicates that the upward trend has been invalidated.
PEPE is trading at $ 0.00000769, down 73% from the highest price ever of $ 0.00002803 in December 2024.
The following is Bitcoin (BTC). Martinez says that the MacD indicator is a weak signal for bitcoin at daytime. MACD is an indicator used to determine the trend direction and to identify changes in momentum by using the difference in short -term and long -term index moving average.
“Every time MACD has a weak crossover on a weekly chart, Bitcoin has seen an average of 40%correction. MACD just flashed another weak crossover! ”
Bitcoin is trading $ 81,645 for writing.
Martinez returns to Solana (SOL) and says that SOL must “defend” the level of encryption assets to about $ 125. Based on Martinez’s charts, he suggests that Solana may plunge to less than $ 70 if the level of support of $ 125 is not maintained.
Solana is trading at $ 143 at the time of writing.
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Created image: Midjourney