"PEPE/USDT 1H: Downtrend Persists – Wait for Reversal !PEPE/USDT 1H: Downtrend Persists – Wait for Reversal Confirmation?
Current Market Structure:
Bearish downtrend with clear lower lows and lower highs.
RSI at 24.56, indicating oversold conditions, but no clear divergence has emerged.
Market Maker Activity:
Distribution phase is complete; the market is now in a markdown phase.
Smart money appears to be distributing at higher levels.
Key Levels:
Resistance: 0.00001020
Support: 0.00000842 (current)
Major Resistance: 0.00001040
Risk Assessment:
8/10 – High-risk environment.
Recommendation:
Do not take a long position despite oversold conditions.
Wait for a clear reversal pattern or a double bottom formation before considering entries, as current price action suggests further downside.
Confidence Level:
7/10 based on clear market structure and volume profile.
🚀 Follow me on TradingView if you respect our charts! 📈 Daily updates!
