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Bullish Engulfing Pattern: On the weekly chart, PEPE has formed a bullish engulfing pattern, indicating strong buyer momentum and a potential continuation of the uptrend.
ā¢ Moving Averages: PEPE is trading above its 50-day Simple Moving Average (SMA), suggesting a bullish trend.
ā¢ Resistance and Support Levels:
ā¢ Resistance: Immediate resistance is around $0.0000075.
ā¢ Support: Key support levels are at $0.000007, with further support at $0.000006.
Spot Trading Signal
Given the current technical indicators and market sentiment:
ā¢ Entry Point: Consider entering a position if PEPE sustains above the $0.000007 support level. CRYPTOPOLITAN
ā¢ Target Price: Short-term traders might aim for a target around $0.000010, aligning with recent bullish forecasts.
ā¢ Stop-Loss: Implement a stop-loss below $0.000006 to manage potential downside risks.
