Pepecoin
PEPE - Speculating on the newest MemeIts hard to accurately chart a semi-liquid post-parabolic memecoin, but it looks like a major decision point incoming.
If major bids don't show up soon, it will drop down to retest the horizontal support, and failing that lead to a breakout to the downside. However a small downsize move below support could confirm a flag and leads to a nice rally if it taps a sufficient demand zone.
Note: Liquidity is a risk with this token and at any point one of the larger bagholders could crush the price due to limited liquidity. If that improves it also improves the prospects for a longer term price appreciation.
My bias is still to the downside in the near term, with the descending resistance against the horizontal support with diminished volume. But if it breaks to the downside I'll consider buying a small bag, even just HKEX:50 , and holding to the next bull market. Cautious traders should look for a higher low before considering entry.
While there were many other Pepe tokens attempted in the past, this one gained more traction and could do well in the next bull market.
Memetic (MEME) - 1:3.7 Trade @coinselorWhile high/mid caps are retracing/breathing, micro caps are still on the move. Memetic is forming another green candle setting a new 85-day high. A long position can be entered right now with a greater than 1:3 risk-reward ratio. Support below red line is particularly strong, offering a lot of protection for our stops.
BITTREX:MEMEBTC
Market Cap :
$362,875 USD
42 BTC
Memetic / PepeCoin Higher Highs Memetic does look pretty awesome from the technical perspective, it has been bouncing off the 200 Moving Average for an extended period of time after which it broke above the $0.4 resistance and now there is clearly a higher highs, higher lows pattern.
After breaking above the $0.4 resistance price retraced back and rejected the uptrend trendline. Currently, it seems that MEME/USD is ready to continue the uptrend and a new all-time high should be just around the corner. The first target is seen at $2.5 where 161.8% Fibonacci retracement, applied to the latest corrective wave down. On a downside note, only break and close below the 200 Moving Average would invalidate bullish outlook.