The indicator chart for PEPE/USDT on the 1-hour timeframe is showing bullish momentum, but there are early signs of a possible short-term correction. Here's a breakdown of what the chart and indicators are saying:
---
📈 Price Action
Current Price: 0.00001265 USDT
24h Change: +13.76% — a strong upward move.
Recent High: 0.00001309
Recent Low: 0.00001098
The price surged strongly with multiple green candles, indicating strong buying pressure.
After hitting the high, a pullback occurred, showing short-term profit-taking.
---
🔁 Candlestick Pattern
The last few candles show lower highs, which suggests reduced bullish strength in the short term.
The current candle is stabilizing near 0.00001265, showing buyers are still active, but cautious.
---
🟡 Moving Averages (MA)
The MA lines (likely short-term EMAs) are trending upward, confirming bullish momentum.
The price is still above the key MAs, which is a positive sign.
---
📊 MACD Indicator (Bottom Section)
The MACD line is above the signal line, which confirms bullish momentum.
But the gap is narrowing, indicating that the momentum is slowing.
---
📉 Volume
Volume is slightly decreasing, suggesting that the strength behind the recent move might be weakening.
Watch for a volume spike to confirm the next move direction.
---
✅ Summary:
Trend: Bullish (short-term)
Momentum: Slowing slightly
Support: ~0.00001223 / 0.00001175
Resistance: 0.00001309 (recent high)
Caution: If the price drops below 0.00001223 with high volume, a short correction could follow.
