Hey Binance fam! ๐ The memecoin sensation PEPE$PEPE is back in focus, and the charts are giving us some exciting signals. Despite a recent -10% pullback, this might not be the end of the rally โ in fact, it could be the perfect setup for the next leg up. Letโs dive into the details! ๐
๐ธ PEPE$PEPE : A Healthy Dip in a Bullish Structure?
After rejecting a key resistance level, PEPE$PEPE has retraced slightly, but donโt panic just yet! The price is now testing a confluence support zone โ this is where:
โ The 0.618 Fibonacci retracement
โ The VWAP (Volume-Weighted Average Price)
โ And the value area high
โฆall overlap, creating a prime demand zone for bulls to defend. This technical setup often leads to a bounce-back scenario, and hereโs why.
๐ Market Structure: Bulls Still in Control?
PEPE continues to form higher highs and higher lows โ a classic bullish pattern. This current pullback? Itโs likely a healthy reset, not a breakdown. As long as the support zone holds, we can expect another push toward the local resistance and possibly new highs.
Volume-wise, the recent climax suggested a local top, but it doesnโt indicate a full reversal. For a confirmed breakout, weโll need to see fresh volume coming in โ so keep an eye on those candles! ๐
๐ฎ Whatโs Next for PEPE?
If bulls hold the fort at current levels, PEPE could be eyeing:
A retest of resistance levels in the short term.
A potential breakout, unlocking new highs.
An expansion phase once momentum builds.
For traders, this -10% dip could be a buying opportunity โ but remember, this isnโt financial advice! DYOR and manage your risk. โ
๐ TL;DR: PEPEโs Path Forward
Support Zone: Strong confluence at current levels.
Market Structure: Still bullish; higher highs/lows intact.
Key Levels to Watch: Hold support, break resistance, watch for volume.
Buckle up, fam! The next PEPE pump could be just around the corner. ๐๐ธ๐
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