Frogs like to Bounce expanded [3H]
When it comes to meme tokens like PEPE, which offer little beyond a buy-and-hold approach, it's important to acknowledge their extreme volatility. Various factors, such as movements in BTC and ETH prices, news events, and institutional players, can greatly influence their price swings.
Currently, the ROBO indicator shows a bearish signal on the 3-hour chart, with 2 out of 3 sell indicators present. However, it's worth noting a potentially significant event—a SUPER signal on July 11th, 2023—which could suggest a looming reversal in the near future, though this remains uncertain.
PEPE has been in a downtrend since July 4th, 2023. At present, the token is trading above the .0000015000 support level and the 200 EMA (Exponential Moving Average). However, it's important to highlight that growth appears to be stalling as we repeatedly test the 200 EMA support, while the 50 EMA acts as the current resistance. These converging exponential averages often precede a breakout in either direction. Based on my technical analysis, a downward movement is anticipated, with key levels of support at .0000013925 and .0000013035.
Due to the extreme volatility associated with PEPE and similar meme tokens, it is advisable to use lower leverage when trading or investing.
Trader psychology also plays an interesting role in the price dynamics of PEPE. The PEPE community is in a constant war with other meme tokens, vying for the coveted title of the KING MEME TOKEN. This competition for supremacy can contribute to heightened market activity and price fluctuations. It's important to consider the influence of community sentiment and rivalry when analyzing the price movements of PEPE.
Remember, meme tokens come with substantial risks, and investing in them should be approached with caution. Conduct thorough research, manage your risk effectively, and be mindful of the speculative nature of these assets.
Currently, the ROBO indicator shows a bearish signal on the 3-hour chart, with 2 out of 3 sell indicators present. However, it's worth noting a potentially significant event—a SUPER signal on July 11th, 2023—which could suggest a looming reversal in the near future, though this remains uncertain.
PEPE has been in a downtrend since July 4th, 2023. At present, the token is trading above the .0000015000 support level and the 200 EMA (Exponential Moving Average). However, it's important to highlight that growth appears to be stalling as we repeatedly test the 200 EMA support, while the 50 EMA acts as the current resistance. These converging exponential averages often precede a breakout in either direction. Based on my technical analysis, a downward movement is anticipated, with key levels of support at .0000013925 and .0000013035.
Due to the extreme volatility associated with PEPE and similar meme tokens, it is advisable to use lower leverage when trading or investing.
Trader psychology also plays an interesting role in the price dynamics of PEPE. The PEPE community is in a constant war with other meme tokens, vying for the coveted title of the KING MEME TOKEN. This competition for supremacy can contribute to heightened market activity and price fluctuations. It's important to consider the influence of community sentiment and rivalry when analyzing the price movements of PEPE.
Remember, meme tokens come with substantial risks, and investing in them should be approached with caution. Conduct thorough research, manage your risk effectively, and be mindful of the speculative nature of these assets.
Comment:
I have updated my graph with new AOI's and targets for 4H.
Comment:
Comment:
Very happy with this.
Very happy with this.
Comment:
Same as my last comment
Same as my last comment