The currency $PEPE is currently experiencing a strong upward movement on the short time frame, having recorded a price level of 0.00001143 after a noticeable rise in the past hours.
โ Key technical points:
Moving averages (EMA 20 / 50 / 99): The price is trading above all the averages, reflecting the strength of the upward trend and the continuation of buying momentum.
Momentum indicators (RSI & Stoch RSI): All are in overbought areas, which may indicate the likelihood of a temporary correction before continuing the rise.
MACD indicator: Gives a positive signal supporting the continuation of the upward trend.
Trading volumes: There is a noticeable increase in liquidity, which enhances the chances of continued rise in the near term.
๐ Expected scenarios:
๐น The positive scenario (currently the strongest):
If the price stabilizes above the level of 0.00001130, we may witness a retest of the resistance at 0.00001147 with the possibility of moving towards areas 0.00001160 โ 0.00001180.
๐น The corrective scenario:
If the price fails to hold above 0.00001130, it may retreat towards support areas at 0.00001110 โ 0.00001095 before resuming the rise.
๐ Summary:
The general trend of the currency is still strongly upward, but entering the market in overbought areas requires some caution, and waiting for a slight correction may be a better opportunity to enter from stronger support levels.
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