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Pepe / USDT
Updated

PEPE/USDT 1H Analysis: Bearish Momentum Continues

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PEPE/USDT 1H Analysis: Bearish Momentum Continues

  1. Current price: $0.00001605, down 0.19%, reflecting strong bearish pressure.

  1. Support and resistance:

  • Immediate support: $0.0000155 – potential short-term relief zone.
  • Key resistance: $0.0000177 – acting as a barrier for recovery attempts.

  1. Recent price action:

  • Clear breakdown from the equilibrium zone, with price falling through multiple support levels.
  • Consecutive red candles breached the POL (Point of Loss) level, signaling persistent selling pressure.

  1. Volume profile:

  • Indicates an ongoing distribution phase, with sellers dominating the market.

  1. Trade setup:

  • Rated 3/10 for longs – current conditions are unfavorable for bullish entries.
  • Best to wait for:
  • A clear reversal signal.
  • Formation of a double bottom around key support zones.

  1. Market outlook: Bearish sentiment dominates until price reclaims resistance at $0.0000177 or shows signs of accumulation.

What’s your perspective on this bearish structure? Drop your insights below! 📉👀
Trade closed: target reached
Cryptokijker
Chart PatternsTechnical IndicatorsPEPEUSDTTrend Analysis

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.
Chart PatternsTechnical IndicatorsPEPEUSDTTrend Analysis
Cryptokijker

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.