Current Price: $0.00001637 (-7.72%)
Analyzing PEPE's price action and market trends, I’ve outlined a potential near-term scenario for January. Here’s the outlook:
Observing the Market Structure
The current chart hints at a clear 1-5 or ABC wave formation. Notably, I’ve identified a potential ABC corrective wave, with wave C currently showing declining volume. What does this signal? Typically, reduced volume at this stage suggests a potential continuation of the corrective phase. As it stands, the market conditions indicate that the correction might not yet be complete.
Wave A seems to have been confirmed, but the absence of wave C in the ongoing correction phase suggests there’s still room for further price movements. The prudent approach is to wait for the formation of wave C before considering any buying opportunities.
The Bigger Picture
Looking ahead to 2025, I anticipate a broader market rally driven by Bitcoin, which would likely extend its impact to altcoins, including PEPE. However, timing is critical. Entering the market prematurely without a clear understanding of the price pattern increases risk. I’m prepared to miss out on potential early gains if necessary, as maintaining clarity in the price structure is more important than chasing uncertain moves.
Strategy Moving Forward
When wave C fully develops and the correction phase concludes, it might present an opportune moment to buy. Until then, the focus remains on analyzing the evolving price action and staying patient. This approach ensures that decisions are based on a comprehensive understanding of the market dynamics.
Patience is key, and with a disciplined strategy, the potential for future gains remains promising.
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