Based on the PEPE price chart above, here is the technical analysis:
#PEPEđ Technical Analysis
Moving Averages (MA):
- MA(7): Rp0.13347
- MA(50): Rp0.12683
- MA(100): Rp0.12354
The current price is Rp0.13980, which is above all major MAs (MA7, MA50, and MA100). This indicates that the short, medium, and long term trends are in a bullish phase.
#### Price Trends:
- Current price: Rp0.13980, showing a significant increase of 17.66%.
- Resistance Level: There is previous resistance around Rp0.14140, which if broken, could confirm the continuation of the uptrend.
- Support Level: The nearest support is seen around Rp0.13113, which is a key level if there is a further decline.
Volume:
- Trading volume shows increased activity as price approaches resistance, this could indicate strong buying interest. Conclusion and Recommendations:
- Bullish Scenario: If the price is able to break through the resistance level at Rp0.14140 and stays above it, then there is potential for the upward trend to continue towards the next resistance level at around Rp0.15007 or higher.
- Bearish Scenario: If price fails to break resistance and falls below Rp0.13113, price could retest lower support levels around Rp0.12354.
- Recommendation: Currently, the trend shows bullish potential. However, be aware of the resistance around Rp0.14140. If the price manages to break through the resistance with sufficient volume, this could be a signal to enter a long position. Conversely, if there is significant selling pressure, consider waiting for confirmation before taking further action.
#PEPEâ¤ď¸ Strategy
- Entry Point: Consider entering a buy position if the price manages to break through and stay above Rp0.14140.
- Stop Loss: Place a stop loss below the support of Rp0.13113 to limit potential losses if the price reverses down.
Keep monitoring price and volume movements to get more accurate signals regarding the direction of further movement.
