$PEPE has given back pretty much the whole pump. The 1000PEPE perp ripped to 0.00512 a few days ago and it's now back at 0.00437, down about 2.5% on the day after getting rejected again around 0.00450.
On the NanoTrading Fire chart (4h) the bids are thin right under price, with a small cluster at 0.00425-0.0043, and then the real support is lower: the volume POC sits around 0.0040 and the liquidation map has its thickest long clusters stacked from roughly 0.0039 to 0.0042. Above, there's a band of short liqs at 0.00445-0.00455 and then the heavy ones at 0.0048 and 0.0050.
Binance futures are not helping the bulls. OI is basically flat around $86M, funding still slightly positive, and about 72% of accounts are long. That's a crowded long side sitting on top of a liquidation pocket, while top traders are a lot less keen at roughly 59% long.
My read: until $PEPE gets a 4h close back above 0.00455, I think a sweep into 0.0040-0.0042 is more likely than a squeeze. If that sweep gets bought fast, that's the long I'd want, aiming back at 0.0045. Patience here đž
Are you buying the 0.0040 area if it comes, or do you think it bounces before that?
NFA, just my read.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#PEPE #Memecoins #NanoTrading
On the NanoTrading Fire chart (4h) the bids are thin right under price, with a small cluster at 0.00425-0.0043, and then the real support is lower: the volume POC sits around 0.0040 and the liquidation map has its thickest long clusters stacked from roughly 0.0039 to 0.0042. Above, there's a band of short liqs at 0.00445-0.00455 and then the heavy ones at 0.0048 and 0.0050.
Binance futures are not helping the bulls. OI is basically flat around $86M, funding still slightly positive, and about 72% of accounts are long. That's a crowded long side sitting on top of a liquidation pocket, while top traders are a lot less keen at roughly 59% long.
My read: until $PEPE gets a 4h close back above 0.00455, I think a sweep into 0.0040-0.0042 is more likely than a squeeze. If that sweep gets bought fast, that's the long I'd want, aiming back at 0.0045. Patience here đž
Are you buying the 0.0040 area if it comes, or do you think it bounces before that?
NFA, just my read.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#PEPE #Memecoins #NanoTrading