đ PEPE: Target Reached â Whatâs Next? đ
Hey guys! $PEPE has just reached the target I had set in my previous post, nearing 0.000008 after a strong upward move. The question now is: will PEPE continue its rally, or is this the time to secure profits? Letâs break down the indicators and chart action to assess whatâs ahead.
Key Levels to Watch:
đ Support:
0.00000740 (EMA(50)) is now the key support level. A dip below this could bring PEPE back to the 0.00000690 area, where we saw previous consolidation. Watch for any weakness near this level as a potential re-entry point.
đ Resistance:
PEPE has hit the 0.00000796 target, a critical resistance zone. If it can break and hold above this, the next key level is 0.00000820, which could signal a continuation of this uptrend.
Indicator Insights:
đ MACD:
The MACD is signaling strong bullish momentum, with a bullish crossover confirmed earlier in the rally. However, the histogram is starting to peak, so a slowdown in the upward move could be on the horizon.
đ RSI:
The RSI is at an overheated level of 92, indicating that PEPE is currently in overbought territory. This doesnât necessarily mean a reversal is imminent, but it does suggest that traders should watch closely for signs of cooling off before taking new positions.
Strategy & Conclusion:
The target has been reached, but the current momentum is still strong. Bulls should keep an eye on 0.00000796 to see if PEPE can break through this resistance. If you're already in, it might be a good time to take partial profits while holding for further upside.
For those on the sidelines, look for a retracement toward the 0.00000740 support for a potential re-entry.
đŹ Will PEPE break further into new highs, or are we due for a correction? Let us know your strategy in the comments below! đ„
