$PEPE /USDT TECHNICAL ANALYSIS: PRICE STRUGGLES NEAR SUPPORT AS SELLERS DOMINATE SHORT-TERM TREND
The $PEPE /USDT pair is currently trading at 0.00001230, down -3.68% over the past 24 hours. The meme coin has shown signs of weakness after failing to sustain above the 0.00001300 level, and is now testing key intraday support.
Key Technical Insights:
Resistance Levels: Recent highs near 0.00001345 and 0.00001380 act as strong resistance. The bulls must reclaim these levels to reverse the short-term downtrend.
Support Levels: Immediate support lies at 0.00001220, with a potential breakdown exposing price to the next zone around 0.00001200–0.00001180.
Price Structure: Lower highs on the hourly chart signal ongoing bearish control, with momentum gradually fading.
Volume Outlook: 24h trading volume remains strong (over 23.90T PEPE), but consistent price rejection near resistance indicates distribution by larger holders.
Outlook:
If PEPE fails to hold above 0.00001220, further downside is likely. However, a strong bounce from this zone may trigger a short-term recovery toward 0.00001300. Traders should watch for price action near the support range before entering new positions.
📉 Bias: Cautiously Bearish
🔍 Key Levels: Support – 0.00001220 | Resistance – 0.00001345
⏳ Short-Term View: Wait for confirmation near support before reacting
