$PEPE /USDT has been trending downwards on the 1-hour chart, showing a clear bearish momentum. The price is currently trading at $0.00001760.
Entry Price:
A conservative entry point for short positions could be around $0.00001760, where the price is currently consolidating.
Resistance & Support:
* Resistance: The immediate resistance level is at $0.00001800. Breaking above this level could signal a potential reversal.
* Support: The strong support level is located at $0.00001668. A break below this level could intensify the downward trend.
Take-Profit Targets:
* TP1: $0.00001668 (Immediate support level)
* TP2: $0.00001600 (Stronger support level)
* TP3: $0.00001500 (Psychological level)
Stop-Loss:
A stop-loss order could be placed at $0.00001800 to limit potential losses if the price reverses unexpectedly.
Caution:
Traders should exercise caution and monitor the market closely for any signs of stability or potential breakout signals. The cryptocurrency market is highly volatile, and prices can fluctuate rapidly.
