PEPE/USDC - (Target reached - new analysis coming soon) 0.0000065 Tactical support penetrated - Alternative scenario confirmed
Market & Ticker: PEPE – PEPE/USDC
Date: 11/07/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
PEPE dropped sharply after having failed to accelerate to the upside before penetrating 0.0000065 key tactical support in Daily close.
The next key level to focus on area at 0.0000022 (Strategic support).
A new analysis will be published in case of new clear bullish set up.
Technical Key Elements:
- Lower part of the descending flag pattern reached.
- RSI indicator is at key support
- The Moving average are resistance at 0.000012
- Fibonacci key support is adjusted at 0.0000065 while the Elliot wave shows upside potential towards 0.000012 and 0.000020
Trade Idea conclusion: Buy
- Target 2: 0.000020
- Target 1: 0.000012
- Buy: add in dip area 0.000009
- Stop: 0.0000065 (Daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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