PEPE is down -2.81% on the day 📉 but technicals are starting to suggest a potential reversal setup. The chart may be screaming: Accumulation Phase in Progress 📊
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🔍 Why PEPE Could Be Nearing a Turning Point:
1️⃣ Double Bounce at Local Support
Price has now twice bounced off the 0.00001196 zone — a solid support forming at the base. This could be the launchpad for the next leg up 🚀
2️⃣ RSI in Oversold Territory
The RSI(6) is sitting at 35.55 — nearing oversold levels. Historically, PEPE bounces well when RSI dips into the 30s range. Could a reversal be next? 🌀
3️⃣ MACD Cooling Off, But Flat
While MACD is slightly bearish (-0.00000006), it’s flattening out — and when combined with consistent volume and RSI positioning, this often precedes a bullish cross ⚠️👀
4️⃣ Volume Consistent, Not Falling Volume remains strong at 1.67T PEPE, showing traders are still actively engaging even during pullbacks. That’s a signal that interest hasn’t died 💡
5️⃣ MA(5) Above MA(10)
The MA(5) remains above the MA(10) — though narrowing, it still shows short-term strength holding. This is often a precursor to bullish rebounds 💥
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📈 Trade Idea (Not Financial Advice):
- Buy Zone: 0.00001260 –0.00001290 🟢
- TP1: 0.00001366
- TP2:0.00001482
- SL: Below $0.00001190 to manage risk 🚨
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🧠 Final Thoughts:
PEPE is looking technically oversold yet structurally intact. This setup has all the makings of a classic meme coin snapback. The bulls are watching this zone closely — the next few candles could be explosive.
Don’t fade the frog 🐸 — PEPE has a habit of surprising when least expected.
Are you ready for the next meme wave? 🌊👇
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