$PEPE Will decline further:

Based on the chart, here are a few indicators to assess whether PEPE/USDT may decline further:

1. Resistance at 0.00002344: This is a recent high, and the price seems to be struggling to break above it. If it fails to break this level, it may face a pullback as sellers take profits.

2. Stochastic RSI: The Stochastic RSI is relatively low, which often indicates oversold conditions. This suggests there might be some upward potential, but if it doesn't bounce soon, this momentum could weaken further.

3. EMA Levels: The current price is still above the 7 EMA and 25 EMA, which indicates that, for now, the bullish trend is intact. However, if it starts dropping below these EMAs (especially below the 25 EMA at 0.00001781), this could signal a shift to a short-term downtrend.

4. Volume: If volume continues to decrease or lacks strength during any attempted breakouts, this could indicate weaker buying pressure, increasing the chance of a decline.

Possible Decline Levels

First Support: 0.00002019 – A break below this may confirm short-term bearish sentiment.

Next Support at 25 EMA: Around 0.00001781 – This is a critical support level. If it falls below this, further decline is likely, with the 99 EMA (around 0.00001296) as a deeper support.

Conclusion

If PEPE/USDT fails to break above 0.00002344 with strong buying volume, there is a chance it could decline toward the support levels mentioned. Watch for a close below 0.00002019 as an early sign of a potential decline.