For anyone interested in pepe coin this study is for you to understand the situation
Hourly frame analysis:
1. Volume:
The hourly frame shows a significant increase in trading volume with an increase in green candles, indicating the entry of a strong buying momentum.
This momentum coincides with the price resistance of the trend (drawn by white dots), which increases the possibility of breaking it in the near future.
2. Trend:
The price is moving gradually upward, with higher highs and lows, reflecting the continuation of the short-term bullish trend.
White trend resistance indicates a crucial test point; if the breakout occurs with high volume, we are likely to see a strong upward move.
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4-hour frame analysis:
1. Volume:
We notice a gradual decrease in trading volume on the 4-hour frame, reflecting weak buyer interest at current levels.
This decrease raises concerns about the sustainability of the uptrend in the medium term, as it indicates the possibility of a correction.
2. Trend:
The overall trend is still up, but the slowdown in trading volume suggests that the upward movement may soon lose momentum.
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Future expectations:
Hourly chart: A breakout of the white trend is likely to occur if the trading volume continues to increase, which may push the price to new levels.
4-hour time frame: In the medium term, the price may face a correction if the trading volume continues to decrease. This correction could be an opportunity to retest support levels and attract more buyers.
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Recommendations:
1. Monitor trading volume carefully:
If the trading volume continues to increase on the hourly frame, prepare for a strong upward move.
On the 4-hour frame, if the decline continues, watch the support levels.
2. Support and resistance points:
Support levels: 0.00002000 and 0.00001950.
Resistance levels: 0.00002150 and 0.00002200.
3. Trading Strategies:
For short-term investors: Exploit trend breakouts on the hourly frame.
For medium term investors: Wait for correction and enter at support levels.
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#BIOOpenonBinance Conclusion:
The market is showing a mix of positive and negative signals. On the 1-hour chart, the buying momentum is strong and indicates a possible breakout. On the 4-hour chart, there is a gradual weakening of momentum that could lead to a correction. It is important to manage risk and wait for confirmation before making any investment decisions.