"OBSERVATIONS"
1. Price Action: The price is currently at 0.00002038, showing a -4.99% decrease in 24 hours. The 24-hour high and low are 0.00002277 and 0.00001959, respectively, suggesting recent volatility.
2. Moving Averages:
MA(5): 0.00002025: Indicates short-term support/resistance.
MA(10): 0.00002046: Price is below the 10-day average, showing a bearish short-term trend.
3. Volume: The volume is declining after a spike, suggesting reduced buying/selling interest.
4. MACD: The MACD line is slightly below the signal line (negative histogram), indicating bearish momentum.
5. Relative Volume: Total PEPE volume is high (44.02T tokens) with corresponding USDT volume of 917.34M, which is significant for liquidity.
---
Trading Strategy:
For a Short Entry:
1. Entry Point: Consider shorting if the price breaks below 0.00001959 (24-hour low) with strong volume.
2. Stop Loss: Set a stop loss at 0.00002050 (above the 5-day MA).
3. Take Profit: Target 0.00001850, aligning with potential support areas from the last correction.
For a Long Entry:
1. Entry Point: Enter long if the price reclaims 0.00002050 with increased volume and a MACD crossover (bullish).
2. Stop Loss: Place a stop loss just below 0.00001959.
3. Take Profit: Target the 24-hour high of 0.00002277, with an extended goal of 0.00002350 if bullish momentum strengthens.
---
Contingency Plans:
Plan A (Trend Reversal): Watch for a MACD bullish crossover and increased volume for confirmation.
Plan B (Further Drop): If 0.00001950 is broken, reassess support near 0.00001800.
Plan C (Consolidation): If price remains range-bound between 0.00001980 - 0.00002050, avoid entering and wait for a breakout.
Plan D (Bearish Continuation): If broader market sentiment remains bearish, maintain tighter stop losses.
Would you like further breakdowns or additional tools like Fibonacci retracements or RSI analysis?
(IF YOU LIKE THE ARTICLE LEAVE YOUR COMMENT & PLEASE FOLLOW ME FOR MORE NEW ARTICLES 😇 🚀 🚀 🚀)
Thanks 😊
