🐸 $PEPE at the Crossroads: Breakout or Fakeout? 📉
The frog is fighting back, but the chart is screaming "caution" for the bulls! Looking at the 1D timeframe, here’s the breakdown of what’s happening with $PEPE right now:
🔍 The Technical Breakdown:
EMA Resistance: PEPE is currently trapped under the EMA(20) and EMA(50). These lines (purple and pink) are acting like a heavy ceiling. Until we close a daily candle above 0.00000582, the bears are still driving the bus.
MACD Momentum: We’re seeing a slight "rounding" in the MACD, but we need that bullish cross to confirm a trend reversal.
RSI Check: At 39.92, we aren't quite in "oversold" territory yet, but there’s plenty of room to move upward if the volume kicks in.
Stochastic RSI: It’s hovering in the middle. We need to see a sharp hook upward to signal a local bottom is in.
📉 Critical Levels to Watch:
Support: If we lose the recent lows, we could be looking at a retest of the 0.00000350 zone.
Resistance: A break above 0.00000721 (EMA 20) would be the first sign of a massive relief rally.
💡 The Strategy:
Don’t chase the green candles in a downtrend! I’m watching for a Volume Spike and a flip of the EMA(20) into support before going heavy. This is a game of patience.
Are you holding PEPE or waiting for lower entries? Drop your price predictions below! 👇$PEPE
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