šØ $PEPE /USDT ALERT: Testing Key Support on the 1-Hour Chart šØ
PEPE/USDT is showing a noticeable decline, currently trading around 0.00001929, down over 18% in the past 24 hours. The recent price action highlights a sharp drop from a high of 0.00002597, signaling bearish pressure as the coin approaches a critical support level.
Current Price: 0.00001929
Entry Price for Short Trade: 0.00001930 (with confirmation of bearish trend continuation)
Key Levels to Watch:
Resistance Levels:
0.00002170 ā First resistance level, a breakout here could signal recovery.
0.00002469 ā Next strong resistance, reclaiming this level would attract buyers.
0.00002665 ā Major resistance, pushing past this point could initiate a new uptrend.
Support Levels:
0.00001921 ā Current support, essential for maintaining price stability.
0.00001676 ā Next support if bearish momentum intensifies.
0.00001181 ā Key support, a drop here could trigger more significant downside risk.
Take-Profit Targets for Short Positions:
1. 0.00001800 ā Initial target if bearish trend continues.
2. 0.00001676 ā Second target, aligning with support level.
3. 0.00001250 ā Final target, approaching a major support zone.
Stop-Loss Level: 0.00002100 ā Place stop-loss above the first resistance level to limit potential loss if the trend reverses.
ā ļø Cautionary Note: Traders should monitor the stability around the current support at 0.00001921. A solid hold here could indicate consolidation, while a break below this level might trigger further downside. Watch for potential breakout signals at resistance levels to adapt strategies accordingly.
