đ¨ $PEPE /USDT SET FOR A CRUCIAL MOVE! WILL IT BREAK OUT OR BREAK DOWN? đ¨
The PEPE/USDT chart on the 4-hour timeframe is showing an ascending channel pattern with price consolidating just below key resistance. The current price sits at 0.00001047 USDT, a tight spot where volatility could spike. Hereâs a breakdown of the critical levels and trading strategy:
đĄ Resistance: The first major resistance stands at 0.00001057 USDTâif breached, we could see a rally toward 0.00001150 USDT. This would be the long-term target for bulls aiming for a continuation rally.
đ Support: Key support is seen at 0.00001010 USDT. A breakdown below this level could lead to a sharper decline, with short-term targets as low as 0.00000950 USDT.
Entry Strategy:
⢠Long Entry: Consider entering above 0.00001057 USDT, targeting 0.00001150 USDT with a stop loss at 0.00001030 USDT.
⢠Short Entry: If price breaks below 0.00001010 USDT, a short position targeting 0.00000950 USDT could be ideal, with a stop loss around 0.00001030 USDT.
Volume Insights: Notice the low volume during the consolidationâthis could signal a volatile breakout is imminent. Keep a close eye on volume surges for directional confirmation.
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