$PEPE | 5D OUTLOOK 📉
PEPE continues to develop within a broader corrective structure following the completion of a larger impulsive advance labeled Wave 1/A near $0.000028098.
From an Elliott Wave perspective, the decline from that high appears to be unfolding as an A-B-C correction, with Wave (A) already completed and Wave (B) forming a corrective triangle before price resumed its decline. The preferred scenario suggests that Wave (C) of the larger Wave 2/B is still in progress.
As long as the broader bearish structure remains intact, PEPE could continue moving lower toward the $0.000002499–$0.000001294 support zone, which remains my primary area of interest for the potential completion of Wave 2/B.
The larger bullish Elliott Wave count remains valid as long as price stays above the major invalidation level at $0.000000556. If the correction eventually completes while respecting this level, I will reassess the structure for signs of the next larger impulsive advance.
The market will ultimately determine whether this Elliott Wave count remains valid. Until then, I continue to respect the current corrective structure and remain flexible if price action provides a valid reason to reassess the count.
This analysis is for educational purposes only and should not be considered financial advice.
#PEPE #PEPEUSDT #Cryptocurrency #ElliottWaveTheory #TechnicalAnalysis
PEPE continues to develop within a broader corrective structure following the completion of a larger impulsive advance labeled Wave 1/A near $0.000028098.
From an Elliott Wave perspective, the decline from that high appears to be unfolding as an A-B-C correction, with Wave (A) already completed and Wave (B) forming a corrective triangle before price resumed its decline. The preferred scenario suggests that Wave (C) of the larger Wave 2/B is still in progress.
As long as the broader bearish structure remains intact, PEPE could continue moving lower toward the $0.000002499–$0.000001294 support zone, which remains my primary area of interest for the potential completion of Wave 2/B.
The larger bullish Elliott Wave count remains valid as long as price stays above the major invalidation level at $0.000000556. If the correction eventually completes while respecting this level, I will reassess the structure for signs of the next larger impulsive advance.
The market will ultimately determine whether this Elliott Wave count remains valid. Until then, I continue to respect the current corrective structure and remain flexible if price action provides a valid reason to reassess the count.
This analysis is for educational purposes only and should not be considered financial advice.
#PEPE #PEPEUSDT #Cryptocurrency #ElliottWaveTheory #TechnicalAnalysis