PepeCoin

<p>I received a couple of requests to provide some more Ichimoku analyses. I am happy to do so since Ichimoku is one of the most reliable indicator systems available. It can provide tons of insights about an asset, trade signals, and parameters for a successful trade setup.</p><p>So, let&#39;s dive into Pepe&#39;s Ichimoku state of the nation.</p><p>&#x1f4a1; Overall, the Ichimoku indicators do not support a trade setup regarding Pepe. However, there are bullish signs that could quickly change the status.</p><h3 id="bullish-crossover">Bullish Crossover</h3><p>Let&#39;s start with a bullish aspect (1): Just four days ago, the so-called Base Line (blue) crossed the Conversion Line (Gray) to the upside. This is considered a bullish sign. However, since the cross happened below the cloud, it&#39;s a rather weak bullish signal.</p><h3 id="double-resistance">Double Resistance</h3><p>Pepe is currently fighting to cross the resistance build of Span B (red line, 2) and the cloud simultaneously ( ~0.000012). A close above this level would indicate further bullish momentum, and the second is the previously mentioned crossover.</p><h3 id="bearish-signals">Bearish Signals</h3><ul><li>Let&#39;s discuss the bearish signals. The future cloud indicates a bearish forecast (red cloud, 3). Additionally, the space between the sides of the cloud is rather ample, so we can&#39;t expect a change soon.</li><li>Based on the horizontal movement of the cloud, Pepe does not have a strong trend at the moment (4). To trade the asset, you want a rising or falling cloud.</li><li>Often forgotten, yet so important. The so-called Chikou (orange line, 5) isn&#39;t &#34;free&#34; — meaning it is almost at the same level as the price candle. Again, when trading an asset, you prefer this indicator to be above/below the price.</li></ul><h3 id="x1f9f5-summarized-way-forward">&#x1f9f5; Summarized &amp; Way Forward</h3><p>Based on the missing trend and the rather bearish outlook, I would suggest trading Pepe now. To reevaluate this, we need the price to close clearly about the cloud and Span B (acting as major resistance).</p><p></p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/6f228cadb73d43ee854cb539db03535b.png" /><p></p>

Why I Don't Consider Trading Pepe Right Now — An Ichimoku Deep Dive Into Pepe 🔍

Table of Contents

Ben Walther

Other articles published on Jul 23, 2024

DYdX Trading Software Is Currently Under Negotiations While V3 Platform Still Works Stably

What’s New in DePin? io.net Partners With Theoriq, Nuklai Launches DAO, Charge.xyz Announces Airdrop

Non-Playable Coin Meme Token Price Soars: Will NPC Flip SHIB, DOGE, and WIF?

Uniswap Decreases More Than 3% Within 24 hours

Ethereum Foundation Dumps ETH Ahead of ETF Launch: Shady Strategy in Action?

Shiba Inu (SHIB) Stays Ahead With 482% Burn Rate Surge

Join our free newsletter for daily crypto updates!