TradeCityPro | PEPE: Critical Support & Trend Reversal Triggers👋 Welcome to TradeCity Pro!
In this analysis, I will examine the PEPE coin. This coin is one of the well-known meme coins in the market and currently holds the 30th rank on CoinMarketCap with a market cap of $4 billion.
📅 Weekly Timeframe
In the weekly timeframe, like other meme coins, PEPE initially experienced a massive pump, starting from $0.00000063 and surging 2,800% to reach $0.00001650.
🔍 In the next bullish leg, the price movement was not as large. After breaking $0.00001650, it established a new ATH at $0.00002706. A rising trendline has also formed from the $0.0000055 low, which has been tested multiple times during corrections.
📊 The candlestick volume has been declining since the first bullish leg ended, but in recent bearish candles, it has started increasing again. This suggests a divergence between price and volume, indicating that if short triggers activate, a trend reversal could be possible.
✨ The first trend reversal trigger is the trendline break, which will be confirmed upon the break of $0.00000788—marking the first sign of a trend shift. Additionally, the primary support lies at $0.0000055, a critical level. If this support is broken, deeper corrections or even a full trend reversal may follow.
🔼 On the other hand, if the price remains above the trendline and establishes a higher low, this would be very beneficial for future price action, potentially leading to a move toward the $0.00001650 and $0.00002706 resistances.
📅 Daily Timeframe
In this timeframe, we can analyze the latest bullish and bearish legs in more detail. As observed, the price has fully retraced its previous bullish move, dropping to the $0.00000788 support.
💫 After reaching the $0.00002651 resistance, the price corrected to $0.00001684. However, the next bullish leg was weak, with low volume and no momentum. Upon breaking $0.00001684, the price started declining, currently correcting toward the weekly trendline with a wick down to $0.00000788.
💥 The RSI oscillator is in a very interesting zone—if it enters the Oversold region, it could trigger another bearish wave. Meanwhile, candle volume has been dominated by sellers since the break of $0.00001684.
✔️ At this point, no solid long setup has formed in this timeframe. A better approach would be to switch to the 4-hour timeframe to identify potential futures trading triggers.
⌛️ 4-Hour Timeframe
Now, let’s move to the 4-hour timeframe to pinpoint futures trading triggers.
🔽 As mentioned in the daily timeframe, momentum is currently in favor of sellers. Therefore, breaking the $0.00000894 support would be an excellent short entry, potentially triggering the next bearish leg.
📈 For a long position, the first trigger is the break of $0.00000977—a risky setup, so it’s crucial to enter with minimal risk. The next long entry would be above $0.00001106, while the main confirmation of a trend reversal will come if $0.00001464 breaks.However, if after breaking $0.00001106, the price forms a higher low and higher high, it could confirm the trend change earlier.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
