🚨 PEPE Faces Rejection at mVAH: Will Support Hold? 🚨

PEPE has retraced to the weekly value area high (wVAH) as anticipated. However, the price is now facing rejection again at the monthly value area high (mVAH). Here's the latest analysis:

📈 Key Insights:

❌ mVAH Resistance: PEPE encountered resistance at mVAH, which is hindering its upward movement.

🔙 wVAH Retracement: The price fell back to wVAH, showing the strength of this support level around 0.000749.

🚨 Rejection: The current rejection at mVAH signals a possible downside if the resistance persists.

🛠️ Potential Scenarios: PEPE might continue trading sideways unless it either breaks above mVAH or falls below wVAH.

💡 Stay Informed:

PEPE's next move will be crucial. Whether it manages to break above mVAH or falls below wVAH will set the tone for its future price action. Stay tuned for updates!

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$PEPE #CryptoWatchMay2024