From the daily chart perspective: The current price of PEPE is still at the bottom of the rising channel, and the previous two rallies were accompanied by slight pullbacks. This time is also at the bottom of a small pullback, and from the parallel channel, we can see that the bottom line of the channel is a strong support.
From the perspective of the dual moving averages, the price pullback meets the yellow 20 moving average, which is a strong support. Moreover, at this time, the three moving averages are still in a bullish divergence state, and the medium to long term remains bullish. Therefore, we can simply determine that PEPE is only undergoing a short-term pullback. Next, let's look at what real data can give us signals 📶:
From the daily chart, PEPE has recently shown a trend of oscillating pullbacks:
Short-term pullback signal:
The price encounters significant selling pressure in the high point area, having closed with small bearish candles for several consecutive days, indicating that the market's upward momentum is gradually weakening.
The current price of PEPE is still running above the yellow 20 moving average, but there are signs of touching support. If it breaks below the 20 moving average, attention should be paid to the support level of the 60 moving average below.
Moving average support:
EMA20 moving average (yellow line): 0.00002250 USDT, short-term support.
EMA60 moving average (blue line): 0.00001799 USDT, medium-term support.
EMA120 moving average (purple line): 0.00001470 USDT, long-term trend support.
Overall, PEPE is repeatedly testing above the 20 moving average. If the short-term pullback continues to expand, pay attention to the support strength of the 60 moving average.
What useful information can the indicators provide us?
1. MACD indicator:
- From the chart, we can see that the MACD histogram is gradually shortening, and the DIF line and DEA line are starting to turn down, approaching the zero axis. This indicates that the bullish momentum is fading, and bearish red momentum is gradually strengthening, with market sentiment turning cautious.
2. RSI indicator:
The current RSI value is 55.5, which is in the neutral zone and has not entered overbought or oversold territory.
This means that market sentiment is relatively stable, with no obvious strong buy or sell signals in the short term, still in a wait-and-see phase.
Combining with the current technical aspect:
1. RSI above 50 indicates that the current market still has a certain upward momentum, which is considered a strong consolidation.
2. If RSI further rises and breaks 60-65, PEPE may test the upper resistance level (0.00002500 USDT) again.
3. Conversely, if RSI falls below 50, attention should be paid to whether the price pulls back to the 60 moving average (0.00001800 USDT) for support.
Overall, RSI 55.5 shows that the market has not completely finished the pullback, but the downward pressure has eased, and investors can patiently wait for confirmation signals:
- A volume rebound + RSI breaking 60 can be seen as a short-term strong recovery signal.
- If it breaks below the EMA20 and RSI falls below 50, the short-term trend will weaken.
3. Stochastic RSI:
- Currently, the stochastic RSI has entered the oversold area (6.03), but the blue and yellow lines have not yet formed a golden cross. This means that there may be some rebound demand in the short term, but further observation of volume cooperation is needed.
Moreover, from the trading volume perspective, the trading volume has significantly shrunk in recent days, resonating with the price retreating from high levels, indicating a strong wait-and-see sentiment in the market.
In addition, the decrease in trading volume also indicates that bulls are reluctant to chase high prices, requiring a wave of pullback to gather strength before the next rise.
Therefore, my view is:
Support and resistance:
- Short-term support level: 0.00002250 USDT (EMA20 moving average).
- Medium-term support level: 0.00001799 USDT (EMA60 moving average).
- Recent resistance level: 0.00002500 USDT (previous high point area).
Buy and sell point suggestions:
1. Buy on dips:
- Buy point one: 0.00002250 USDT (near EMA20 moving average support, suitable for conservative investors).
- Buy point two: 0.00001800 USDT (near EMA60 moving average; if a deep pullback occurs, it is a good layout opportunity).
2. Stop-loss settings:
- If the price falls below 0.00002150 USDT, consider stopping loss and exiting to prevent further downward risk.
3. Short-term trader target sell point:
- First target level: 0.00002500 USDT (short-term pressure).
- Second target level: 0.00002700 USDT (previous high point area; if broken with volume, a new trend may form).
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So
In summary, PEPE is currently in a short-term pullback and consolidation phase. The 20 moving average is the short-term support we need to focus on next. If the price stabilizes and rebounds with volume, the market is expected to once again attempt to surge towards 0.00002500 USDT.
Therefore, I suggest that friends who haven't entered the market should immediately buy 50% of their budget.
Then place the order: 1. Recent resistance level: 0.00002250 USDT (previous high point area).
2. Medium-term support level first order position: 0.00001800 USDT (60 moving average).
$PEPE (Spot)
$PEPE (Contract)
Today is the weekend; I wish everyone a happy weekend!
