Hi friends hope you are well and welcome to the new update on PEPE:
Channel breakout:
PEPE has just broken out a 40 days long resistance of a down channel.
Applying Divergence check on the breakout:
There is no bearish divergence therefore the breakout is valid but sofar, volume is low.
Inverse Head & Shoulder move:
There is another up trendline resistance of inverse Head & Shoulder pattern's neckline.
For safer side we can wait for priceline to breakout neckline of this head and shoulder.
For detailed analysis, you can also watch the below video:
Targets:
Target for the channel's breakout is Target: $0.00000208
Stop loss can be below the recent swing low before the breakout, which is at $0.00000082.
Below is the view:
Conclusion:
It is a high risk / high reward setup.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
A token with no use and only the purpose of being supposedly the $SHIBA of 2023, after its valorization through a Tweet the possible initial members don't give a damn about the project anymore, they are already profiting on the coin while people are still trying to invest and catch the boat.
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