PEPEUSDT Turns Bearish | More Downward Move Ahead for #PEPE?

4 lip

Yello, Paradisers! Have you been keeping an eye on PEPE (#PEPE)? Our latest analysis suggests a critical moment is approaching. Let’s dive into the details.

💎#PEPE is currently trading within a descending channel, which is a bearish continuation pattern. This pattern is characterized by lower highs and lower lows, indicating sustained downward pressure. The price has been respecting the descending resistance line, repeatedly getting rejected at this level.

💎50EMA and macro market sentiment are also reinforcing our bearish bias for #PEPE. The major support zone is highlighted at $0.00000730. If the price fails to hold above this level, it could lead to a further drop towards the next support at $0.00000662.

💎The immediate resistance zone to watch is at $0.00001225. For the bearish scenario to be invalidated, #PEPEUSDT needs to break above the resistance at $0.00001225. This would signal a potential trend reversal and the start of a new uptrend.

💎There's a bullish order block around $0.00000730, which could act as a strong support level, providing a potential bounce back if tested.

Stay focused, patient, and disciplined paradisers

MyCryptoParadisers
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