Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.
PEPE:
- PEPE is a really interesting chart here.
- Price broke the $0.000009 local support and then put in new lows.
- However, the price is now pushing into its main downtrend line, whilst it's in a major support zone between $0.00000711 and $0.00000826.
- The RSI is also just above oversold territory, and it's put in a bullish divergence (a lower low in price and a higher low on the oscillator). This could see a small relief rally.
- If the major support of $0.00000711 is lost, that would be a major breakdown of the structure, and the chances would be that a recovery is much, much harder.
- Next Support: $0.00000711
- Next Resistance: $0.00000920
- Direction: Neutral/Bullish
- Upside Target: $0.0000113
- Downside Target: $0.00000711
Cryptonary's take
PEPE is now in a key support zone, whilst it's squeezing against its main downtrend line, and it's put in a bullish divergence. If we see Majors just hold, then PEPE may be set up to break out here. We would still expect major upside to be capped.But it's possible, that if a break out comes, $0.00000920 and then $0.00001137 could be reached. However, we expect that if that happens, that's about it for the upside, and then we'd expect the lows to be retested in the coming weeks/months.
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