Brief Analysis ——PEPE
At the end of April, BTC entered in a correction. The party for the meme coins has started. Various meme coins have risen. And now that the bulls in the market is decaying again, is there still a chance for meme coins?
Today we have chosen three meme coins for brief analysis. They are PEPE, FLOKI and DOGE, among which DOGE has experiences through many times.
After listing in Binance, PEPE has made a long time dump, rebounded in mid-June, and then fluctuate until this Monday. During the fluctuation, we can find that once a long green candle appeared, there would be a long-term fall (shown in the yellow area). This shows that although the bears was not strong, but the persistence of the bulls was weak. This is also a characteristic of meme coins. On Monday, the bears gained power as price broke previous lows and a long red candle appeared with increased volume. Since then, the bulls has not gained strength, trailing the bears.
Conclusion: The high probability decline has not ended. PEPE remains neutral on a large scale, and bears are stronger than bulls on a small scale. So we draw this conclusion. We set resistance level at 0.00000178 and support level at 0.00000085.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Today we have chosen three meme coins for brief analysis. They are PEPE, FLOKI and DOGE, among which DOGE has experiences through many times.
After listing in Binance, PEPE has made a long time dump, rebounded in mid-June, and then fluctuate until this Monday. During the fluctuation, we can find that once a long green candle appeared, there would be a long-term fall (shown in the yellow area). This shows that although the bears was not strong, but the persistence of the bulls was weak. This is also a characteristic of meme coins. On Monday, the bears gained power as price broke previous lows and a long red candle appeared with increased volume. Since then, the bulls has not gained strength, trailing the bears.
Conclusion: The high probability decline has not ended. PEPE remains neutral on a large scale, and bears are stronger than bulls on a small scale. So we draw this conclusion. We set resistance level at 0.00000178 and support level at 0.00000085.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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