Pepe Coin ( $PEPE ) – Brief Technical Analysis

Current Price: 0.0107050

Analysis

Pepe coin appears to be at the end of its correction phase, marking the beginning of its latest upward wave. This analysis is consistent with Elliott Wave Theory, which suggests that markets move in predictable wave patterns.

Upside Potential: The maximum potential of this wave could be a move of the size of the third wave, which could mean a significant upside. Minimum Target: Even if the wave does not reach its full potential, it is expected to complete higher than the end of the fourth wave, marking the end of the correction. Fibonacci Levels: Traders often uses Fibonacci retracement levels to identify potential targets. Important levels to watch could be 0.618 or 0.786 retracements of the previous down wave.

Important Points:

Volatility: Pepe coin is known for its volatility. Remember that although there is upside potential, sharp pullbacks are also possible. Confirmation: Wait for confirmation of the up wave before entering any position. A break above key resistance levels will be a bullish signal. Risk Management: Use stop-loss orders to manage risk. This is especially important in a volatile market like crypto.