Crypto analyst, David, says Pepe is currently trading in a bullish formation. However, he states that it has fallen below an important support area. Therefore, he expects the altcoin price to decline in the short term. Meanwhile, the victory party of Ethereum Classic bulls was short-lived. Sellers pushed the price to the $16 level. Analyst Suzuki Shillsalot expects further declines for ETC.
Pepe (PEPE) price prediction: There is a decline in the near future for the altcoin!
PEPE price reached a local high of $0.0000019 on July 14. However, it has been falling in a descending parallel channel ever since. This is a bullish pattern that leads to breakouts in most cases. However, this move caused the price to decline below the $0.00000083 support area and reached $0.00000060 on September 17. This shows that the downward trend continues.
In fact, the subsequent recovery was stopped by the confluence of resistance levels at $0.00000083, including the resistance of the channel and the previous support area. The daily RSI indicator also fell below 50 during this period. This shows that the bears are still in control of the market. It also means that the PEPE price will likely drop further in the near future. The potential target for this decline is the recent low of $0.00000060. Breaking this level would likely drop the altcoin price down to the channel support line at $0.00000032.
PEPE daily chart. Source: TradingViewThe most likely scenario shows that the altcoin price will drop further in the near future. The nearest target is $0.00000066. Additionally, it could potentially drop as low as $0.00000060. However, a decline in the price below $0.00000060 could trigger a rapid decline towards the channel support line at $0.00000032.
Ethereum Classic (ETC) price prediction: A 7% drop is possible
Previous price analysis of ETC showed the possibility of Bitcoin providing more benefits for buyers if it does not suffer sudden losses. Although BTC maintained the $27,000 price zone, ETC bears made a sharp entry into the market. This put the bulls in a difficult situation.
ETC price chart. Source: Trading ViewWhen we look at the altcoin price indicators on the 12-hour time frame, we see a downward trend. The Relative Strength Index (RSI) has fallen sharply from the overbought zone. Thus, the RSI has moved below the neutral 50. This indicates an increase in selling pressure. Similarly, Chaikin Money Flow (CMF) turned negative to highlight significant capital outflows during the period in question. The next target for sellers who ride the short-term bearish wave will be a 7% move to the $14.45 support level. If the sellers lose momentum, the bulls may keep prices in a range before making another attempt to flip the $16 price level.
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