Why I'm optimistic about#PEPE⁉️
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- $PEPE has potential despite being pessimistic on higher time frames
- It was one of the best performances in recent days.
🪷 Resistance levels:
- PEPE faces several levels of resistance, including:
- 13,200
- Trendline around 13,800
- 14,200
🪷 Momentum and open interest:
- PEPE is gaining momentum in shorter timeframes
- Open interest started accumulating since yesterday morning
- Spot CVD is positive, indicating that positions are being opened on PEPE
🪷 Bitcoin volatility and impact:
- Today's big news (inflation rate, CPI, interest rates) can bring volatility
- If Bitcoin gets a bullish breakout, meme coins like PEPE will rise regardless of resistance
- Bitcoin's performance will strongly influence PEPE's movement
🪷 Short-term vs. long-term outlook:
- Short-term bullish momentum is possible, but further rally requires very bullish Bitcoin
- To surpass 14,200, PEPE needs a very optimistic Bitcoin that surpasses US$68,000.