🚨🚨$PEPE BUY or SELL?? Detailed analysis 👇
Short-term Analysis (1D chart):
The chart shows a recent downtrend after a spike, with the price currently at $0.00001849, up 2.82% in the last 24 hours. The price is hovering around the Fibonacci retracement level of 0.236 ($0.00001766), which often acts as a support level. The Moving Average (MA) lines (7, 25, 99) indicate:
MA(7) at $0.00001840, suggesting short-term support.
MA(25) at $0.00002116, above the current price, indicating a bearish trend in the slightly longer term.
MA(99) at $0.00001507, below the current price, showing a potential longer-term support.
The RSI is not shown, but given the recent price action, it might be approaching oversold territory, suggesting a potential short-term bounce.
Short-term Recommendation: Given the price is testing a Fibonacci support level and the short-term MA is close, it might be prudent to buy if the price holds above $0.00001766. However, if it breaks below this level, consider selling to avoid further downside risk.
Long-term Analysis:
Looking at the broader trend, after a significant peak, the price has corrected sharply. The long-term trend seems bearish as the price is far from the higher Fibonacci levels and the MA(99) which is quite lower than the current price. This indicates that the market sentiment might still be bearish.
The price is well below the peak, suggesting that any long-term investment would require patience for a market recovery or a fundamental change in sentiment towards PEPE.
Long-term Recommendation: Given the current position far from previous highs and the general downtrend, it might be safer to sell in the long term unless there's a clear indication of a trend reversal or significant positive developments for PEPE. However, if you believe in the long-term potential of PEPE and are willing to hold through volatility, buying at this lower price could offer a good entry point for long-term holding.