PepeLong
PEPE Is Falling, Should You Invest?
Updated
Lets break down PEPEUSD on the Daily Chart!
After Robinhood & Coinbase listedPEPEUSD on their platforms, we see the accumulation of Trading Interest rise which helps push price up, breaking the Highs of May!
Since having created the Higher High @ .000025676, Price has been falling and seems to be creating a familiar Bullish Pattern called a "Falling Wedge", formed by Lower Highs (Falling Resistance) into Lower Lows (Falling Support).
Wedge Patterns are considered Continuation Patterns so given the Uptrend move prior to the formation of the pattern, we can suspect Price to Continue Higher after a Bullish Break of the Falling Resistance!
The Retracement or Pullback to the 50% Fibonacci Level while Price is in the Consolidation State of the Pattern typically suggests the Pullback has ended. The 50% Fibonacci Level or .000016697 sits right in the middle of the Support Zone established by the May Highs.
The Last Low @ .000017309 just missed the May High @ .000017223 and the 50% Fibonacci Level, so with Price still trapped by the Falling Resistance, we could see more Downside forPEPEUSD before getting the Confirmation of Pattern with the Bullish Break!!
Based off the Extension from the Lower Low @ .000007718 to the Higher High @ 000025676 giving us a .000017958 or 232.68% Increase, we can derive that a .000038 Potential Target with a Valid Bullish Break is possible!
Indicators:
- Price Trading Above 200 EMA
- RSI Above 50
- BBTrend Printing Green Bars
- DSR Aligning with 50% Level
PEPEUSD on the Daily Chart!After Robinhood & Coinbase listed
PEPEUSD on their platforms, we see the accumulation of Trading Interest rise which helps push price up, breaking the Highs of May! Since having created the Higher High @ .000025676, Price has been falling and seems to be creating a familiar Bullish Pattern called a "Falling Wedge", formed by Lower Highs (Falling Resistance) into Lower Lows (Falling Support).
Wedge Patterns are considered Continuation Patterns so given the Uptrend move prior to the formation of the pattern, we can suspect Price to Continue Higher after a Bullish Break of the Falling Resistance!
The Retracement or Pullback to the 50% Fibonacci Level while Price is in the Consolidation State of the Pattern typically suggests the Pullback has ended. The 50% Fibonacci Level or .000016697 sits right in the middle of the Support Zone established by the May Highs.
The Last Low @ .000017309 just missed the May High @ .000017223 and the 50% Fibonacci Level, so with Price still trapped by the Falling Resistance, we could see more Downside for
PEPEUSD before getting the Confirmation of Pattern with the Bullish Break!!Based off the Extension from the Lower Low @ .000007718 to the Higher High @ 000025676 giving us a .000017958 or 232.68% Increase, we can derive that a .000038 Potential Target with a Valid Bullish Break is possible!
Indicators:
- Price Trading Above 200 EMA
- RSI Above 50
- BBTrend Printing Green Bars
- DSR Aligning with 50% Level
Note
PEPEUSD is now testing the Break of Falling Resistance and Previous Level of Structure. If Support is found, Price could push Higher!!
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#PEPEUSD came back down to test the Previous Level of Structure and is showing signs of finding Support!
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Note
Bitstamp soon to list PEPEUSD on their platform!
The more places the Crypto is listed, the more available it will be for Trading and Investing!
tradingview.com/news/u_today:620d7965c094b:0-bitstamp-usa-announces-massive-listings-with-solana-sol-and-pepe-in-focus/
Note
PEPEUSD has broken the Falling Resistance of the Wedge and successful retested that break!
We should see price start to move up from here to the potential target of .000038!!
Note
I think we may be looking at a possible Rising Wedge on
PEPEUSD after its impressive Bullish Rally past Mays High @ .000017239.
Price is wrestling with a Rising Resistance so I suspect Price will come back to test the Rising Support for a 3rd time before moving higher to consolidate tighter and potentially give us another Bullish Continuation.
*If Price can Break Bullish above the Rising Resistance, based on Prior Bullish Rally, we could see Price make a reach for .000046!
-Price Trading Above 200 EMA
-RSI Above 50
-Bullish Volume Present
Note
Price has come down and is testing the Rising Support for a 3rd time!!
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