Based on the chart for 1000PEPEUSDT, the price is currently at 0.0080767, down 4.22% from the previous mark. The 24-hour trading range is between 0.0079869 and 0.0087838, with significant volume of 83.45B (1000PEPE) or 702.07M (USDT).
The price recently experienced a sharp decline from around 0.0114409 to a low of 0.0058452, followed by a partial recovery. Current price action shows consolidation with small bullish candles forming.
Key levels to watch:
Support: 0.0079869 (24h low), 0.0058452 (recent bottom)
Resistance: 0.0087838 (24h high), 0.0114409 (previous peak)
The next potential buying point could be around 0.0079-0.0080 if it holds as support. Alternatively, a breakout above 0.0087 could signal renewed upward momentum.
Trading strategies:
1. Wait for confirmation of support at current levels before entering long positions.
2. Set stop-losses below 0.0079 for long trades.
3. Consider taking profits near the 0.0087-0.0090 resistance zone.
4. Watch for a potential double bottom formation if price retests the 0.0058 area.
Market sentiment appears cautiously bearish in the short-term, given the recent sharp decline and negative MACD. However, the formation of small bullish candles suggests potential stabilization. The overall direction will likely depend on whether support holds at current levels or if the price continues its downtrend. #pepe⚡
