$PEPE Trading Strategy
Since PEPE/USDT is showing consolidation and possible range-bound movement, a range trading strategy could be effective. However, keep an eye on the moving averages and support/resistance levels for potential breakout signals.
1. Entry Points
Long Position (Buy):
Enter near the support level at 0.00002039. This level has held recently, indicating potential buying interest.
Look for confirmation, such as a bullish candlestick pattern (like a hammer or engulfing pattern) or a bounce off the MA(7) or MA(25) to confirm strength near this support.
Short Position (Sell):
Enter a short position near the resistance level at 0.00002277 if there’s rejection or bearish candle patterns. This level is the recent high, and price could face selling pressure here.
2. Stop-Losses
For Long Positions:
Set a stop-loss slightly below the support level at 0.00002000. If the price falls below this level, it may indicate a break in support, signaling further downside.
For Short Positions:
Set a stop-loss slightly above the resistance level at 0.00002300. If the price breaks above this level, it could indicate an upward breakout.
3. Take Profit Levels
For Long Positions:
Consider taking partial profits at 0.00002200 (near resistance) to lock in gains.
Final profit target at 0.00002277 if the price shows strong momentum.
For Short Positions:
Take partial profits around 0.00002150, and hold the remaining position towards 0.00002039 support level.
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