PEPE/USDT 1H Analysis: Bearish Momentum Continues

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PEPE/USDT 1H Analysis: Bearish Momentum Continues

1. Current price: $0.00001605, down 0.19%, reflecting strong bearish pressure.
   

1. Support and resistance:
   

• Immediate support: $0.0000155 – potential short-term relief zone.
  
• Key resistance: $0.0000177 – acting as a barrier for recovery attempts.
  

1. Recent price action:
   

• Clear breakdown from the equilibrium zone, with price falling through multiple support levels.
  
• Consecutive red candles breached the POL (Point of Loss) level, signaling persistent selling pressure.
  

1. Volume profile:
   

• Indicates an ongoing distribution phase, with sellers dominating the market.
  

1. Trade setup:
   

• Rated 3/10 for longs – current conditions are unfavorable for bullish entries.
  
• Best to wait for:
  
• A clear reversal signal.
  
• Formation of a double bottom around key support zones.
  

1. Market outlook: Bearish sentiment dominates until price reclaims resistance at $0.0000177 or shows signs of accumulation.
   

What’s your perspective on this bearish structure? Drop your insights below! 📉👀