technical analysis and trade signal for $PEPE /USDT based on the provided data:
Current Price: 0.00002103 USDT
24h High: 0.00002108 USDT
24h Low: 0.00001952 USDT
24h Price Change: +0.86%
Key Support and Resistance Levels:
Support Level: 0.00001950 (near 24h low)
Resistance Level 1: 0.00002110 (near 24h high)
Resistance Level 2: 0.00002200 (potential breakout zone)
Trade Signal:
Momentum: The price has been slightly bullish over the past 24 hours with a +0.86% increase. There is a potential for continued upward momentum if PEPE breaks resistance levels.
Trade Setup:
1. Entry Point: Consider entering near 0.00002100, with the potential for price continuation if momentum holds.
2. Target Levels:
Target 1 (T1): 0.00002150 (Short-term target for quick profit-taking)
Target 2 (T2): 0.00002200 (Medium-term target, if the trend continues)
Target 3 (T3): 0.00002300 (Long-term target, in case of a strong breakout above resistance)
3. Stop Loss: Set a stop-loss just below the 24h low, around 0.00001950, to protect against downside risk.
4. Trade Momentum: Watch for volume spikes and price action around 0.00002110 as it could signal a breakout. If the price sustains above this level, it could lead to further upward movement.
Key Indicators:
RSI: Check if RSI moves above 50, indicating an upward trend.
MACD: Monitor the MACD for potential bullish crossovers.
Volume: A significant increase in volume can confirm the breakout above key resistance.
This strategy is for short to medium-term trades. Adjust based on market conditions and ensure you're following risk management practices.