PEPE rally is about to end or go further?
Updated
PEPE/USDT from Binance on a 3-day timeframe. Here's my technical analysis
Resistance and Support Levels:
Resistance: The chart indicates a resistance level around 0.00001725 USDT, marked by a red horizontal line. The price has recently tested this level and faced rejection.
Support: Key support levels are indicated around 0.00000895 USDT and 0.00000593 USDT. These levels are critical as they represent potential areas where the price might find buying interest if it declines.
Technical Indicators
Parabolic Curves: I used parabolic curves to indicate the dynamic support and resistance zones. The price action is currently above these curves, which is a bullish signal.
Key Support: The key support curve is crucial as it provides a baseline for the current uptrend. If the price were to break below this level, it might indicate a potential trend reversal or a deeper correction.
Recent Price Action: The price recently faced resistance at around 0.00001725 USDT and has shown some consolidation in the highlighted red box area.
Potential Pullback: A possible pullback scenario where the price could retest the 0.00000895 USDT level before potentially finding support and moving back up.
Resistance and Support Levels:
Resistance: The chart indicates a resistance level around 0.00001725 USDT, marked by a red horizontal line. The price has recently tested this level and faced rejection.
Support: Key support levels are indicated around 0.00000895 USDT and 0.00000593 USDT. These levels are critical as they represent potential areas where the price might find buying interest if it declines.
Technical Indicators
Parabolic Curves: I used parabolic curves to indicate the dynamic support and resistance zones. The price action is currently above these curves, which is a bullish signal.
Key Support: The key support curve is crucial as it provides a baseline for the current uptrend. If the price were to break below this level, it might indicate a potential trend reversal or a deeper correction.
Recent Price Action: The price recently faced resistance at around 0.00001725 USDT and has shown some consolidation in the highlighted red box area.
Potential Pullback: A possible pullback scenario where the price could retest the 0.00000895 USDT level before potentially finding support and moving back up.
Note
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