$PEPE $PEPE

PEPE/USDT Chart Analysis: A Bearish Trend

The PEPE/USDT chart is currently exhibiting a bearish trend. Let's break down the key levels and discuss a potential trading strategy:

Support:

* Immediate Support: The 0.00000788 level has been a recent support level, but it's under pressure.

* Stronger Support: The 0.00000785 level could provide stronger support, but it's not guaranteed to hold.

Resistance:

* Immediate Resistance: The 0.00000807 level has acted as a resistance level.

* Stronger Resistance: The 0.00000828 level could provide stronger resistance, but breaking above it would signal a potential reversal.

Entry Strategy:

* Conservative: Wait for a retest of the 0.00000788 level as resistance and consider shorting with a stop-loss above the recent swing high.

* Aggressive: If the price breaks below the 0.00000785 support level, it could signal a further downside move, providing an opportunity for a short position with a stop-loss above the recent swing high.

Overall Outlook:

The current trend is bearish, and the price is likely to continue its downward movement in the short term. However, traders should be aware of potential short-term rallies, especially if the price bounces off the 0.00000785 support level.

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