The $PEPE /USDT chart shows a notable upward move, with the price climbing from a low of $0.00000699 to a high of $0.00000851 within the 4-hour timeframe, reflecting a 4.45% gain. This surge highlights strong buying interest, as the price has broken through previous resistance levels. The current price, at $0.00000822, suggests a slight pullback from the recent high, which indicates some profit-taking but keeps the overall bullish sentiment intact.
The key resistance level to watch is $0.00000851, which is the recent high. A confirmed breakout above this resistance could lead to further gains, potentially driving the price toward the next psychological level of $0.00000900. On the downside, immediate support lies around $0.00000771, which could act as a floor if the price pulls back further. A break below this level could suggest a deeper correction.
For traders looking to enter long positions, waiting for a breakout above $0.00000851 could provide an ideal entry point. Alternatively, entering near the support level of $0.00000771 could offer a safer entry with a more favorable risk/reward ratio. It is essential to place stop-losses below key support levels to mitigate downside risk in case of market volatility.
Overall, the current trend remains bullish, but traders should be cautious of potential short-term pullbacks. As long as the price holds above key support levels, the bullish momentum is likely to persist.
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