To identify the next target for the PEPE/USDT pair, let's examine key technical elements in the chart:
1. Price Levels and Moving Averages (EMA):
The chart includes three Exponential Moving Averages (EMAs): EMA(7), EMA(25), and EMA(99).
The current price is positioned above all three EMAs, which is generally bullish and suggests an upward trend. If the price sustains above these levels, it could support a higher target.
2. Resistance and Support:
Resistance: A recent peak near 0.00001315 serves as a primary resistance level. Breaking above this point with strength could allow for further upward movement.
Support: A support level is observed around 0.00001143. A move below this level could signal a trend reversal or downside momentum.
3. Volume and Momentum Indicators:
RSI (Relative Strength Index): Currently around 52.8, the RSI is neutral, leaving room for upward or downward movement. If it rises above 70, it could indicate overbought conditions, while a drop below 30 would suggest oversold territory.
Stochastic RSI: At 34.96, the Stochastic RSI is near the lower range but rising, which might indicate short-term upward momentum.
Target Outlook
Upside Target: If the price moves above 0.00001315 with strong volume, the next target could be around 0.00001400 or higher, depending on resistance levels.
Downside Risk: If the price falls below the 0.00001143 support, it may decline further toward 0.00001004 (near EMA(99)).
For short-term trades, closely monitoring these support and resistance levels for price confirmation above or below can help identify a clearer direction.
