$PEPE DOUBLE BOTTOM FORMED ON 4H
Is Pepe ready to take off now?
📊 On this 4H chart Pepe formed a double bottom with support near $0.00000775 and broke the first hurdle that is resistance of $0.000009 which is now the support.
Now if we analyse the price action, it has been holding this $0.000009 level for the past few days (mainly from July 8th) and the volume has been on the rise. When the price stays above resistance and moves sideways for a certain period of time, it's time for some reversal action.
Also the past 12 Hrs have seen the 20MA (middle band) acting as a steady support level. The only obstacle that persists is the crucial resistance of $0.00001 as erasing a zero has always been a significant feat for any memecoin and Pepe is no different to stay away from this scenario.
📢 So, I have a firm belief of a breakout from this resistance erasing that zero, with a retest that will bring the price back to this level (may add that zero again) and back to it's upward journey. 🚀🚀
Last but not the least, mark this zone ($0.000009-$0.00001) within a rectangle so that it'll be easy to spot a breakout on either side. Although I'm confident of a breakout on the upside.
*This is not investment advice. Please do your own research before taking any trade.
