📊🌟"PePe Meme Coin Analysis: Breaking Ceilings" 📈✨
💹 Due to requests in the comments of the BNB coin analysis, let's dive into PePe, a popular meme coin in the crypto space, and identify potential entry and exit points to profit from this coin.
🐸 About Meme Coins:
Before starting the analysis, let's talk about meme coins. These coins often start as jokes without substantial backing, gaining hype primarily through social media trends. Investing in these coins carries high risk, so it's advisable to invest small amounts initially. Out of many such coins, only a few, like PePe, succeed, while most turn out to be scams. Remember, as one of our friends says, "Even with $10, you can become rich from a shitcoin!
📅 Higher Timeframe Analysis:
In higher timeframes, such as the weekly, there isn’t much data due to the coin’s recent launch. However, we can observe that after its listing, the price dropped significantly. Later, due to community support and social media hype, investors returned, leading to a price resurgence.
🌞 Daily Timeframe Analysis:
In the daily timeframe, after breaking the upper limit of the box and triggering the 0.00000161 mark, the price surged sharply. This move was confirmed by volume and RSI, showing strong bullish candles and a 400% price increase. Subsequently, the coin formed resistance at 0.00000904 and then moved down to the 0.00000463 support level, where it found support.
📊 This event coincided with our 0.382 Fibonacci wave, and after finding support, the price moved back towards the previous high. Given the recent market events, we've broken through this ceiling, suggesting a higher probability of a new trend beginning.
📈 Volume Analysis and Trend Confirmation:
Before projecting potential targets using Fibonacci, let’s examine the volume. In this trending market, we observe an upward trendline where each bounce off this line saw increased volume, and each pullback saw decreased volume. This is one of our primary confirmations for a continuing trend.
🎯 Potential Future Targets:
Using the Fibonacci extension after reaching the 0.382 wave and finding support, our potential future targets are: 0.00001350 , 0.00001805 , 0.00002614 , 0.00004185
Remember, I use the logarithmic scale for Fibonacci levels.
💼 Entry and Exit Strategies:
For those looking to buy, the daily candle that closed yesterday engulfed the previous five candles with good volume, indicating a continuation of the bullish trend. If you don't have this coin, you can buy now with a stop loss around 0.00000655, or place it according to Fibonacci at the 0.382 level. Additionally, the RSI entering the overbought zone (currently at 72.83) confirms this entry point.
📝 For those holding the coin, like me, if you entered at lower points like 0.00000087 or 0.00000161, consider withdrawing your initial investment plus some profit and explore other projects. This way, even if PePe goes to zero, you’ll be safe from losses.
🔍 If you want to manage your stop loss, consider exiting if the coin loses the 0.00000463 support and closes below this level on the daily timeframe.
🚨 Strategy for Potential Fake Breakouts:
In the future, I’ll create a tutorial on the Fake Breakout strategy. For now, observe this pattern forming on different charts, including this one. After faking the 0.00000904 resistance, move to a lower timeframe and open a short position upon breaking the 0.00000655 trigger.
💸 Support and Resistance Levels:
🔻 Support Levels:
0.00000655, 0.00000463, 0.00000161
🔺 Resistance Levels:
0.00001350, 0.00001805, 0.00002614
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
🐸 About Meme Coins:
Before starting the analysis, let's talk about meme coins. These coins often start as jokes without substantial backing, gaining hype primarily through social media trends. Investing in these coins carries high risk, so it's advisable to invest small amounts initially. Out of many such coins, only a few, like PePe, succeed, while most turn out to be scams. Remember, as one of our friends says, "Even with $10, you can become rich from a shitcoin!
📅 Higher Timeframe Analysis:
In higher timeframes, such as the weekly, there isn’t much data due to the coin’s recent launch. However, we can observe that after its listing, the price dropped significantly. Later, due to community support and social media hype, investors returned, leading to a price resurgence.
🌞 Daily Timeframe Analysis:
In the daily timeframe, after breaking the upper limit of the box and triggering the 0.00000161 mark, the price surged sharply. This move was confirmed by volume and RSI, showing strong bullish candles and a 400% price increase. Subsequently, the coin formed resistance at 0.00000904 and then moved down to the 0.00000463 support level, where it found support.
📊 This event coincided with our 0.382 Fibonacci wave, and after finding support, the price moved back towards the previous high. Given the recent market events, we've broken through this ceiling, suggesting a higher probability of a new trend beginning.
📈 Volume Analysis and Trend Confirmation:
Before projecting potential targets using Fibonacci, let’s examine the volume. In this trending market, we observe an upward trendline where each bounce off this line saw increased volume, and each pullback saw decreased volume. This is one of our primary confirmations for a continuing trend.
🎯 Potential Future Targets:
Using the Fibonacci extension after reaching the 0.382 wave and finding support, our potential future targets are: 0.00001350 , 0.00001805 , 0.00002614 , 0.00004185
Remember, I use the logarithmic scale for Fibonacci levels.
💼 Entry and Exit Strategies:
For those looking to buy, the daily candle that closed yesterday engulfed the previous five candles with good volume, indicating a continuation of the bullish trend. If you don't have this coin, you can buy now with a stop loss around 0.00000655, or place it according to Fibonacci at the 0.382 level. Additionally, the RSI entering the overbought zone (currently at 72.83) confirms this entry point.
📝 For those holding the coin, like me, if you entered at lower points like 0.00000087 or 0.00000161, consider withdrawing your initial investment plus some profit and explore other projects. This way, even if PePe goes to zero, you’ll be safe from losses.
🔍 If you want to manage your stop loss, consider exiting if the coin loses the 0.00000463 support and closes below this level on the daily timeframe.
🚨 Strategy for Potential Fake Breakouts:
In the future, I’ll create a tutorial on the Fake Breakout strategy. For now, observe this pattern forming on different charts, including this one. After faking the 0.00000904 resistance, move to a lower timeframe and open a short position upon breaking the 0.00000655 trigger.
💸 Support and Resistance Levels:
🔻 Support Levels:
0.00000655, 0.00000463, 0.00000161
🔺 Resistance Levels:
0.00001350, 0.00001805, 0.00002614
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.