The 1D chart for PEPEUSDT is showing a clean bullish structure, supported by repeated rejections from a key support level and a recent breakout above short-term resistance. This setup offers a simple yet potentially high-reward trade opportunity for swing traders.
📊 Trade Setup
Entry: 0.00001269 USDT
Price has confirmed a bullish reversal and is currently hovering above a minor consolidation range, presenting a strong opportunity for a long position.
Stop Loss: 0.00001079 USDT
Placed just below the previous local lows to invalidate the setup in case of a breakdown.
Take Profit 1 (TP1): 0.00002135 USDT
This level represents a previous high and a clear horizontal resistance zone.
Take Profit 2 (TP2): 0.00002844 USDT
A higher resistance level, also aligning with historical price action, offering a potential 103% gain from entry.
📈 Technical Justification
Key Support Holding: Price has shown multiple rejections near the 0.00000565 USDT level, forming a strong support base. Each rejection has resulted in a higher low, indicating increasing bullish momentum.
Trendline Confirmation: The ascending trendline shows sustained bullish pressure and confirms the strength of the ongoing trend.
Breakout Setup: Current price action indicates a breakout from consolidation, supported by volume. The bullish structure remains intact as long as the price holds above the 0.00001079 SL region.
Risk-to-Reward: The setup offers an attractive 4.5 R/R ratio, making it highly favorable for swing trading.
📌 Summary
This is a clean, trend-continuation trade with defined risk and strong technical backing. Traders looking for a mid-term opportunity should keep an eye on volume and price action around TP1 for potential partial exits or trailing stop adjustments.
📊 Trade Setup
Entry: 0.00001269 USDT
Price has confirmed a bullish reversal and is currently hovering above a minor consolidation range, presenting a strong opportunity for a long position.
Stop Loss: 0.00001079 USDT
Placed just below the previous local lows to invalidate the setup in case of a breakdown.
Take Profit 1 (TP1): 0.00002135 USDT
This level represents a previous high and a clear horizontal resistance zone.
Take Profit 2 (TP2): 0.00002844 USDT
A higher resistance level, also aligning with historical price action, offering a potential 103% gain from entry.
📈 Technical Justification
Key Support Holding: Price has shown multiple rejections near the 0.00000565 USDT level, forming a strong support base. Each rejection has resulted in a higher low, indicating increasing bullish momentum.
Trendline Confirmation: The ascending trendline shows sustained bullish pressure and confirms the strength of the ongoing trend.
Breakout Setup: Current price action indicates a breakout from consolidation, supported by volume. The bullish structure remains intact as long as the price holds above the 0.00001079 SL region.
Risk-to-Reward: The setup offers an attractive 4.5 R/R ratio, making it highly favorable for swing trading.
📌 Summary
This is a clean, trend-continuation trade with defined risk and strong technical backing. Traders looking for a mid-term opportunity should keep an eye on volume and price action around TP1 for potential partial exits or trailing stop adjustments.
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Trade forex, indices, stocks and metals with up to US$100.000 in company's funding.
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.