Analysis $PEPE /USDT: Testing Key Support Levels
$PEPE is trading at $0.00001203, down 8.24% in the last 24 hours. The price recently bounced off a low of $0.00001185, showing attempts to stabilize after a sharp decline.
Key levels to watch:
Resistance: $0.00001240 — a breakout above this level could initiate a recovery to $0.00001270 and $0.00001300.
Support: $0.00001185 — a breakout below this level could lead to further declines to $0.00001150 and $0.00001120.
Trading setup:
Long entry: above $0.00001240, target $0.00001270 and $0.00001300.
Short entry: below $0.00001185, target $0.00001150 and $0.00001120.
Market analysis:
RSI at 25.35 indicates oversold conditions, suggesting potential for a short-term bounce. MACD is in bearish territory, but the histogram shows slight easing of selling pressure. Watch for a potential reversal if support holds, or a deeper drop if it breaks.
