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Memetoken

🔥 PEPE Oversold Bounce From Support: Great Upside!PEPE has been trading bullish alongside the dotted support line for around a week now. This trade is based on the idea that PEPE will once again bounce from said support. The idea of the bounce is reinforced by the fact that the RSI has hit oversold on the hourly chart, which has always caused a bounce in recent history. Target at 200, stop at 159 just below the support. It's a risky trade, but has very decent upside.
Long
by FieryTrading
17
🚀GRIMACE to the MarsTake a closer look at $GRIMACE right now Short-term local forecast This trading idea is based on a commonly observed behavior of meme coins. After an initial surge, the coin tends to consolidate for a few weeks, undergoing redistribution and position accumulation. Here are some arguments in favor of the asset's potential growth towards the first target ($10): After trading in a deep discount zone, significant players start accumulating positions. We can observe a gradual reduction in local liquidity from decreasing lows. Referring to the basics of technical analysis: A Wyckoff pattern is apparent, with an UpThrust (UT) observed - a liquidity shakeout from the previous high. This forms new liquidity for further growth. Next, it is necessary to test the support in the form of an OB (Overbought) area. Here, a Spring will be formed - a local liquidity shakeout before mark-up. It is characterized by lower volumes, and the decrease to the specified values may take some time. Local reverse bull divergence and direct bear divergence in local highs indicate buyer weakness, providing another argument in favor of a short-term asset devaluation.
GLong
by glebeb
1
🔥 PEPE Waiting For Bullish Break Out: Great Reward PotentialOver the last couple of weeks I've made several PEPE analyses where I discussed a potential reversal of the trend. In the end it became clear that PEPE had to go lower first before a prolonged change of trend. Still, I kept a close eye on the diagonal purple resistance line. At some point PEPE has to break through it, which can potentially kick off a major bullish correction after weeks of selling. In case of a break out, the 200 area is still the target like before. SL around 93, could also be 82 for a less risky approach.
Long
by FieryTrading
12
🔥 PEPE Leaving Oversold Area: Is This The Bottom?In my most recent PEPE analysis I argued that it was likely that PEPE was forming some kind of bottom. The initial trade hit SL due to it being a bit too tight. However, the second trade is still in profit and is currently looking great. For the people who missed the last entry, a new entry signal has emerged. - PEPE is leaving the oversold (<30) area on the daily RSI. - PEPE has formed a higher-low on the 4H time frame. Entry placed at 114, which is yesterday's local top. SL under the swing low, around 104. Target still remains at 200.
Long
by FieryTrading
15
🔥 PEPE Breaking Out: Insane Risk Reward OpportunityAs of this morning, PEPE is trying to break through the bearish diagonal resistance line drawn on the chart. With BTC trading neutral and stocks exploding upwards, there's little holding volatile tokens like PEPE down. Speaking of volatility, once this token actually catches an uptrend, expect it to be violent. Wait for the 2H candle to close above the diagonal resistance to confirm the break out. TP/SL are on the chart. Ideally, take some profits around 193 and/or move the SL to break-even.
Long
by FieryTrading
14
🔥 PEPE vs SHIBA: Comparing Two Meme Tokens' First DaysPEPE and SHIBA are arguably very much alike. Both are so called meme tokens which made incredible returns in a span of a couple of weeks. Millionaires were made here. As with all highly traded tokens, both arrived at Binance at some point in their lifetime. As with a lot of tokens, the fact that it's arrived on Binance is not necessarily bullish in the short-term. The announcement is bullish, but once trading opens there's a high probability for a dump. Buy the rumor sell the news. SHIB dropped nearly 90% in the first month after it arrived on Binance. PEPE has dropped around 65% within the first 4 days. Although there's definitely a decent probability for a nice reversal, we should also consider the fact that PEPE can drop much lower. On the other hand, once PEPE has stabilized it would likely be a decent time to start buying in anticipation for a potential pump (10x!) like SHIB. Remember that PEPE will most likely follow a different path than SHIB did back in 2021. Trading based on fractals is ill-advised, but can still offer some guidance on what we can potentially expect.
Short
by FieryTrading
16