Moving average range bound. Currently trading between 200dma on the upside and 50dma on the downside.
Probably going to wait until RSI hits overbought on the daily then wait to re-enter around 50dma. Still a few months until summer seasonality really kicks in. Currently 58/70 so thinking 58.30 could trigger upper bounds there.
Makes sense that 57.50 is a hard resistance midway through that range until summer seasonality kicks in. I expect anything above to look like a pump and dump.
Wouldn't be surprised to see 47 again this winter (1.618 of current range)
Pepe
Every stimulus to a market results in return below mean. Opec first started cutting around 39.5. These are the two long term scenarios, one where China and the US come to an agreement while China is weak and another where little progress is made.
I believe 35 is much more likely. China understands that any politician after trump will not be okay with IP theft.
Instead of returning to the mean when investors had a consensus about the bearishness towards the market, Opec postponed the return to mean during a period of speculation and leverage... the squeeze causes a break of the trend.
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.