PEPE: Bull Market or Just Frog Legs on the Menu?Short-Term Perspective for BINANCE:PEPEUSDT
Over the past three months, the token has been in a downtrend, forming an impulsive structure. This raises concerns about whether PEPE is still in a bullish trend or if a deeper correction is underway.
In the near term, the key area to watch is the MA20week and MA200d levels, along with the price imbalance zones. With high probability, a short-term bullish movement could occur toward these resistance zones.
Long-Term Scenarios
From a broader perspective, three potential scenarios are in play:
Bullish Continuation – If the correction completes as expected, we could see the start of Wave V, leading to new highs.
Extended Correction – A larger corrective Wave IV could still be in progress, delaying a breakout.
Bearish Reversal – If price fails to reclaim key levels, a larger downward structure might develop, invalidating the bullish outlook.
The market structure remains uncertain, requiring further confirmation of bullish momentum. Monitoring price reaction at key resistance levels is crucial before making definitive trend assessments.
COINBASE:PEPEUSD
