**Overview:**
PEPEUSD is currently trading within a descending channel, respecting key supply and demand zones. The market is approaching a critical decision point that could determine the next major move.
**Key Levels:**
🔹 **Support:** 0.00000719 - Strong demand zone where price has recently bounced.
🔹 **Resistance:** 0.00000850 - Key breakout level to watch.
🔹 **Major Target:** 0.00001031 - Potential upside target if bullish momentum takes over.
**Analysis:**
- The price is currently in a downward structure but has shown signs of potential reversal from the demand zone.
- A **break above the 0.00000850 zone** could confirm bullish momentum, making it a strong area to accumulate more positions.
- If the price fails to break this resistance, we may see further consolidation or a continuation of the downtrend.
**Trade Plan:**
📌 **Bullish Scenario:**
- Wait for a confirmed breakout and retest of 0.00000850 before entering long.
- Target **0.00001031** with a proper risk-reward setup.
📌 **Bearish Scenario:**
- If price rejects resistance, short opportunities could be considered with a stop above the resistance.
- Target the previous low at **0.00000719** for a potential retracement.
*Final Thoughts:**
This setup requires patience and confirmation. Always manage risk accordingly and wait for clear price action signals before executing trades. 🚀📊
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.