🚨🚨🚨🚨🐸 Quick Technical Analysis of PEPE/USDT✨✨✨✨✨✨✨🚀🚀🚀🚀🚀🎆🎆🎆🎆🎆🎆🎆👍

Timeframe: 1 hour (1H)

Current Status: The price of PEPE/USDT is currently at $0.00001219, showing a slight correction of -2.71% in the last hour (according to the capture at 7:40 p.m.).

Key Observations:

Nearby Support: There is an accumulation of buy orders (Demand) around the level of $0.00001217 (see Image 1 - Market Depth). This suggests a possible support in this area.

Potential Resistance: There is an accumulation of sell orders (Supply) near $0.00001218 (see Image 1). Breaking this level could indicate bullish momentum.

Moving Averages: In the candlestick chart (Image 2), the current candle seems to be trying to stay above the 20-period Moving Average (MA(20): $0.00001339), although it is still below the 200-period Moving Average (MA(200): $0.00001339). This suggests a short-term bearish trend but with recovery potential if it surpasses the MA(20).

RSI (6): The Relative Strength Index (RSI) is at 47.16, indicating a neutral condition, with no clear signals of overbought or oversold at this time.

Parabolic SAR: The SAR points (0.02, 0.2) are above the current price, reinforcing slight short-term bearish pressure.

Volume: The current volume appears moderate (Vol: 384,779,698,326), with no significant spikes indicating strong conviction in a particular direction.

Possible Signal (Caution):

If the price manages to hold and decisively break the resistance of $0.00001218 with an increase in volume, it could be considered a short-term buy signal with initial targets in the area of the following resistances (to be observed in higher timeframes).

Important Considerations:

This is an analysis based on point-in-time data and a 1-hour timeframe. The volatility of the cryptocurrency market can lead to rapid changes.

Always conduct your own research (DYOR) and consider your risk tolerance before making any investment decisions.

Observing the price behavior in higher timeframes (4H, Daily) can provide a clearer perspective of the overall trend.

Chart: (Attached are the provided images for visual reference)

Attention👁️👁️👁️ ⚠️⚠️NOT a trading signal ⚠️⚠️

#PEPE #USDT #Cryptocurrencies #Trading #TechnicalAnalysis #Binance