đ PEPE/USDT - Critical Retest and Potential Reversal đ
PEPE/USDT is showing a significant pullback to $0.00000899 after reaching highs around $0.00001197. The price has sharply corrected, breaching multiple bullish order blocks (OB), suggesting a shift in market sentiment.
đ„ Key Observations:
Bearish OBs: Resistance levels at $0.00001102 and $0.00001136 have proven strong, with price failing to sustain above these levels.
Current Trend: The recent downtrend has broken below previous support levels, currently attempting to stabilize and find new support.
Support Levels: Immediate support is found at $0.00000756 and $0.00000736. A breach below could lead to a further decline towards the low at $0.00000633.
đŻ Short Setup:
đ Entry for Short: Consider a short position if the price retests and rejects from $0.00000940, indicating continued bearish momentum.
đŻ Take Profit Targets for Short:
1. TP1: $0.00000800 â Next psychological support level.
2. TP2: $0.00000756 â Lower support, near previous bullish OB.
3. TP3: $0.00000736 â Extended target if the downtrend persists.
đĄïž Stop Loss for Short: Set a stop loss around $0.00000950 to protect against potential reversals back towards recent resistances.
đ Long Setup (If Reversal Signs Appear):
đ Entry for Long: Watch for potential reversal patterns or strong buying volume around $0.00000756 or $0.00000736 as an opportunity to go long.
đŻ Take Profit Targets for Long:
1. TP1: $0.00000800 â Minor resistance level.
2. TP2: $0.00000900 â Significant level before the previous peak.
3. TP3: $0.00000940 â If a strong bullish reversal initiates.
đĄïž Stop Loss for Long: Position a stop loss just below $0.00000700 to minimize risk from further declines.
đ Market Sentiment: The sharp decline from recent highs indicates a strong bearish pressure. The market's next moves will be crucial in determining whether PEPE can find stable support or if the downtrend will continue.
