PEPE/USDT: Possible short-term bullish trading idea
Entry Point: A potential entry point could be a small bounce up towards the 0.00001290 - 0.00001320 area. This assumes a minor retracement before further downside. You could also consider entering at the current price with a tighter stop-loss.
Stop-Loss: Place a stop-loss order below the identified support level of 0.000001297. A slightly wider stop-loss could be considered, perhaps just below the low of the recent red candles that led to the bounce, to account for minor price fluctuations. For example, around 0.00000129.
Target/Exit Points:
Target 1: Aim for a retest of the previous swing high around 0.000001387. This offers a decent risk-reward ratio.
Target 2 (More ambitious): If the upward momentum is strong, you could target the area around 0.00000145 - 0.00000150, which represents intermediate resistance levels before the 24-hour high.