Trade Analysis #10:
$PEPE : Bullish Run or Bust?
Since October, $PEPE has been the champion of the bull run, boasting a total gain of 2,311% (from $0.0000007473 on October 23rd, 2023, to $0.00001727 on May 27th).
However, recent signs indicate a potential slowdown. The lower high on June 26th and a significant drop in the RSI (Relative Strength Index) suggest that the price might be weakening.
Today, the 1-day chart even dipped below the Lower Bollinger Band. While this is concerning, the trading volume hasn't spiked yet, which is a positive sign.
Given the immense 23x gain, there's a high chance of further price drops due to accumulated sell pressure. For now, it might be wise to avoid $PEPE .
There will likely be opportunities to buy at a lower price point later on. Patience is key 😎💰🙏.