What are your expectations for the currency $PEPE
My predictions say it's a trap for many reasons
The MACD indicator uses the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) to predict the trend more accurately. Similar to simple moving averages, the relationship between these two is useful in determining the direction of the trend.
For all these indicators, the weekly timeframe is used to determine the long-term trend, the daily timeframe is used for the medium trend, while the six-hour timeframe is used for the short-term trend.
According to the MACD, on the timeframe of one weekly candle, the price of Pepe is currently trending downward as the MACD signal line moved below 50 periods and has been negative for 50 periods.
Chart patterns are widely used by traders to form trend lines that help predict the next candle's movement.
Different indicators such as the Relative Strength Index (RSI), moving averages, and MACD can be used to determine the long-term trend direction and attempt to predict future price movements.
