Through analyzing the chart of PEPE/USDT (15-minute time frame) shown in the image, we can derive the following observations:
Current situation
• Current price: 0.00001527 USDT.
• The overall trend in recent days (from the 18th to the 23rd of the month): Gradual upward trend.
• A new peak was recently recorded at 0.00001562 USDT.
• The price is above the short-term moving averages (7 and 25) and also above the long average (99), confirming the bullish trend in the short term.
• There is strong momentum in the last trading session, manifested in the form of a long bullish candle accompanied by high trading volume.
Technical analysis:
1. Moving Averages (MA):
• The price is trading above all moving averages, which is a strong bullish signal.
• The short-term average crossing with higher averages gives a signal for the continuation of the upward trend.
2. Trading volumes:
• Increase in trading volume in recent candles, which often accompanies a strong movement (breakout).
3. Support and resistance:
• The nearest support level: around 0.00001460
• Current resistance level: 0.00001562 (which is the last peak)
• If resistance is broken, the upward movement is likely to extend to new levels.
4. Momentum and Volatility:
• The current positive momentum may indicate continued upward movement, but a sharp vertical move may be followed by a temporary corrective movement.
Price forecasts:
✅ In the next 24 hours:
• The most likely scenario: Continued upward movement towards 0.00001600 - 0.00001620 if the price holds above 0.00001500.
• In case of correction: The price may return to test the support area between 0.00001460 - 0.00001440.
✅ In the coming week:
• If the positive momentum and high trading volume continue, we are likely to see a move towards 0.00001700 - 0.00001800.
• However, any break below 0.00001400 may change the short-term trend to bearish.
Summary of recommendation:
• Current trend: Bullish.
• Short watch level: 0.00001500 (if broken downwards, monitor the area of 0.00001440).
• Entry strategy: Wait for a retest of the support with confirmation of a bullish candle.
• Exit strategy or profit-taking: Near 0.00001620 and 0.00001700
