Market Analysis: $PEPE /USDT Breaks Key Resistance!🔥💯
The PEPE/USDT pair has shown promising price action on the 30-minute chart, breaking through the critical resistance zone marked between 0.00001780 - 0.00001820. The breakout to 0.00001886 indicates strong bullish momentum. However, the price retraced slightly, consolidating near the newly established support level at 0.00001844.
Key Levels:
• Long Entry: Consider entering around 0.00001840 - 0.00001850 for a potential retest of the 0.00001900 zone. Stop-loss can be placed below 0.00001820.
• Short Entry: If the price breaks below 0.00001820, a short position targeting 0.00001760 could be viable with a tight stop-loss above 0.00001840.
Next Move:
The market’s next direction will depend on volume and momentum at the current support level. A strong hold above 0.00001840 could push PEPE/USDT toward 0.00001920, whereas a rejection might lead to further downside testing the 0.00001780 level.
Trading Strategy: Watch for confirmation at the support or resistance before entering. Secure partial profits on successful trades and trail your stop-loss for risk management.