PEPE/USDT 1H Analysis: Bearish Momentum Continues
PEPE/USDT 1H Analysis: Bearish Momentum Continues
What’s your perspective on this bearish structure? Drop your insights below! 📉👀
- Current price: $0.00001605, down 0.19%, reflecting strong bearish pressure.
- Support and resistance:
- Immediate support: $0.0000155 – potential short-term relief zone.
- Key resistance: $0.0000177 – acting as a barrier for recovery attempts.
- 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.
- Volume profile:
- Indicates an ongoing distribution phase, with sellers dominating the market.
- 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.
- 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! 📉👀
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