Technical Analysis of PEPE and Trading Strategy
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Technical Analysis
1. Support Levels:
- Strong Support: $0.00000000200 (2e-9).
- Secondary Support: $0.00000000185 (1.85e-9).
2. Resistance Levels:
- Immediate Resistance: $0.00000000215 (2.15e-9).
- Strong Resistance: $0.00000000230 (2.3e-9).
3. Key Indicators:
- RSI: Near 70, indicating overbought conditions with potential price correction.
- MA50 and MA200: The price is close to MA50 and may rebound if support holds.
4. Overall Trend:
- The price is oscillating in a narrow range between $0.00000000200 and $0.00000000215. The uptrend remains intact as long as support holds.
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Trading Strategies
Long Strategy:
- Entry Point:
Enter a long position when the price rebounds from the $0.00000000200 support or breaks above the $0.00000000215 resistance with increased trading volume.
- Take Profit:
- Target 1: $0.00000000215 (minor gain).
- Target 2: $0.00000000230 (strong resistance).
- Stop Loss:
Set below $0.00000000185 to minimize risk.
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Short Strategy:
- Entry Point:
Enter a short position if the price fails to break the $0.00000000215 resistance and shows reversal signals.
- Take Profit:
- Target 1: $0.00000000200.
- Target 2: $0.00000000185.
- Stop Loss:
Set above $0.00000000220 to protect your position.
