Well, I’ll be a monkey’s uncle! That there PEPE coin, the one that’s been as popular as a cat in a room full of rocking chairs, has been dallying around a mighty important support level for weeks on end. It’s been a slippery slope since the year’s kick-off, and one sharp crypto analyst on that there TradingView has the gall to say that if this here coin pops above that level, it might just shoot up like a rocket to the moon—400% to the princely sum of $0.0001. And this, mind you, after a week that was about as pleasant as a toothache for the whole crypto shebang, with PEPE sinking lower than a snake’s belly in a wagon rut.
Now, this here technical hocus-pocus points to PEPE’s salvation resting on a bounce at a support level around $0.00000650. A fella on TradingView spotted it, using some fancy chart with candles that look more like they’re for a birthday party than for predicting the future of money.
This here support level is a big deal because PEPE’s been on a downward spiral since December, when it was flying high like a kite. The analyst calls it the third drive, and if you believe in such hocus-pocus, the first two drives ended with a good ol’ fashioned correction too.
In the past day, PEPE’s shown some spunk, pushing above that support level and inching up to the $0.000007 range. But don’t go counting your chickens yet, because the trend ain’t set in stone. The analyst says it’s all about how PEPE handles a resistance zone that’s as tricky as a greased pig, ranging from $0.00001150 to $0.00001200.
This level used to be a friend, but now it’s turned into a foe. So, if PEPE can close above it on a weekly basis, it’d be like slaying the bear and riding the bull into the sunset.
If PEPE breaks above $0.00001200, it’ll be like a dam breaking, with momentum that could push it to the next resistance levels around $0.00001700 to $0.00002200. And if it hits $0.00002200, well, it’ll be like a snowball rolling downhill, right on past its current all-time high.
The analyst is predicting a grand target of $0.0001, but only if the bull keeps charging. If PEPE can’t close above that key resistance, it might just keep on sliding, and we’ll be back to square one, or lower.
As I’m putting pen to paper, PEPE’s trading at $0.000007239, up 4.4% in the past day. Whether it keeps on climbing depends on the big boys like Bitcoin and their market shenanigans.
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2025-03-06 05:13