The eternal cycle of $PEPE : From the euphoria at 0.0000053 to the reality check on the daily chart. 🐸📉
Look at the timing in 1D: we went from a brutal impulse starting at 0.00000253 to touching a liquidity ceiling at 0.00000536. At that peak, Square’s feeds filled up again with the usual “10x is coming for the frog!”.
But the charts’ reality is different: the price is now trading at 0.00000417 (-5%), having lost the EMA 7 (0.00000429) and heading toward a test of the key support of the EMA 25 (0.00000407). With the MACD losing momentum on the daily timeframe, the liquidity from impulsive buyers up above has already been consumed.
With memecoins, you don’t trade on emotion. While those who entered with high leverage up top are suffering through the pullback, the smart move is to stay calm: see whether the EMA 25 manages to hold the pressure, or if the market will give us an opportunity to look for a mean reversion back toward the EMA 99 (0.00000353).
Do you think the EMA 25 will stop the drop, or are we going to search for even lower levels? I’ll read your thoughts in the comments. 👇👀
$PEPE #PEPE #PepeCoin #BinanceSquare #CryptoTrading #PriceAction
Look at the timing in 1D: we went from a brutal impulse starting at 0.00000253 to touching a liquidity ceiling at 0.00000536. At that peak, Square’s feeds filled up again with the usual “10x is coming for the frog!”.
But the charts’ reality is different: the price is now trading at 0.00000417 (-5%), having lost the EMA 7 (0.00000429) and heading toward a test of the key support of the EMA 25 (0.00000407). With the MACD losing momentum on the daily timeframe, the liquidity from impulsive buyers up above has already been consumed.
With memecoins, you don’t trade on emotion. While those who entered with high leverage up top are suffering through the pullback, the smart move is to stay calm: see whether the EMA 25 manages to hold the pressure, or if the market will give us an opportunity to look for a mean reversion back toward the EMA 99 (0.00000353).
Do you think the EMA 25 will stop the drop, or are we going to search for even lower levels? I’ll read your thoughts in the comments. 👇👀
$PEPE #PEPE #PepeCoin #BinanceSquare #CryptoTrading #PriceAction
