- Alas, Pepe finds itself ensnared in a bearish web, a structure as grim as a winter’s night.
- Another 5% ascent is whispered among the traders, yet the demand is as feeble as a candle in a storm.
In the shadowy corners of the exchange, Pepe [PEPE] has witnessed a trickle of outflows, while whispers of accumulation flutter like moths to a flame. Yet, the holders, poor souls, are left counting their losses, as relentless selling pressure drags this year’s hopes into the abyss.
Ah, the long-term bearishness—like a stubborn winter—shows no signs of retreat.
Yet, in this bleak landscape, a flicker of hope emerges for fleeting gains. A journey to the two-week range highs is anticipated, though a breakout remains a distant dream. Here lie the levels that traders must keep their weary eyes upon.
Pepe’s Resilient Rebound from Mid-Range Support
While the higher timeframes loom ominously, the lower timeframes reveal a curious consolidation for our dear memecoin. For two weeks, PEPE has danced between the $0.00000572 and $0.0000736 thresholds, a waltz of uncertainty.
The range formation (purple) stands as a testament to the extremes being respected, with the mid-range level at $0.00000655 holding firm like a lighthouse in a stormy sea.
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The 1-month liquidation heatmap reveals a cluster of liquidity at $0.0000075, tantalizingly perched just above the range highs. Could it be that Pepe prices will leap another 5% in the coming hours or days, sweeping through this liquidity pocket like a hungry frog at a fly convention? 🐸
Beyond that, the $0.000009 zone beckons like a siren, a magnetic pull for the hopeful traders.
As the volume indicator fails to signal a likely breakout, we cling to the notion that the range formation will persist, much like our hopes for a better tomorrow. The 1-week heatmap reveals a liquidity pocket at $0.00000745-$0.0000075, a beacon for the weary.
Meanwhile, the local low around $0.00000645 stands as a short-term bearish target, lurking just below the mid-range level. A retest of this mid-range could present swing traders with a golden opportunity, or perhaps just another chance to laugh at their misfortunes.
Beware, for the volatility of Bitcoin [BTC] could wreak havoc on the Pepe range formation, sending it spiraling above the range during the New York session, much to the chagrin of traditional markets.
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2025-03-18 04:10