Hello everyone❗ I noticed that PEPE is trending in discussions again, but not due to a rise. Let's analyze the data that everyone is aware of and just speculate.
What is visible on the charts
Price: Fluctuates around $0.00000482. It has dropped nearly 4% in a day.
Key level: The price has confidently broken through all major moving averages (EMA 21, 50, 99) and is trading below them. This is a classic bearish signal for many traders.
RSI in deep oversold zone: On one of the screenshots, RSI(6) dropped to 15.5❗ This is an extremely low value that often indicates strong selling pressure. But remember: RSI can stay in oversold territory for a long time.
Volumes: Volumes in USDT are significant ($28.5 million in 24h). This indicates high interest, but the question ➖ is it interest from sellers or buyers❓
Dynamics: Over 180 days and a year, the decline is -54% and -61% respectively. The trend on larger timeframes is evident.
Key discussion questions (your opinion in the comments❗):
1. Classic vs Anomaly: RSI is off the charts in oversold territory. Is this a signal for a bounce for you OR an indicator of such weakness that the coin may continue to fall❓ 🤔
2. Trend strength: All moving averages are above the price. Do you see this as a clear 'sell' signal or as an opportunity for contrarian buying 'in hopes of a bounce'❓
3. About memes in general: PEPE ➖ is the benchmark meme coin. In conditions where BTC dominates and altcoins often lag, do such coins have a chance for a powerful rally❓ Or is this just for short 'pumps'❓ 🐸
4. Your tactic❓ If you are following PEPE, what are you waiting for to enter (if you are waiting at all)❓ A drop to a specific level❓ A breakout signal on EMA❓ Or are you just watching from the sidelines of this volatile spectacle❓
Important❗ This is not advice, but an analysis of public data and a reason for discussion. The meme coin market ➖ is a zone of increased risk and volatility.
