Market Analysis: $PEPE /USDT Breaks Key Resistance!🔥💯
PEPE/USDT has shown promising price action on the 30-minute chart, breaking through the critical resistance zone defined between 0.00001780 - 0.00001820. A break through 0.00001886 indicates strong bullish momentum. However, prices have pulled back 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 area. A stop loss can be placed below 0.00001820.
• Short Entry: If the price drops below 0.00001820, there may be a possibility to enter a short position targeting 0.00001760 with a tight stop loss above 0.00001840.
Next Step:
The next direction of the market will depend on the volume and momentum at the current support level. A hold above 0.00001840 may push PEPE/USDT towards 0.00001920, while a rejection may lead to further decline and a test of the 0.00001780 level.
Trading Strategy: Watch for confirmation at support or resistance before entering. Lock in partial profits on successful trades and follow a stop loss to manage risk.