$PEPE /USDT – Daily Chart Trade Setup
🔍 Market Context & Technical Snapshot
Overall technical bias: sharply bearish
TradingView shows a “Strong Sell” signal for daily timeframe — moving averages and indicators both align clouded in red .
Investing.com confirms strong sell across daily indicators: RSI ≈ 34 (selling), MACD and ADX negative, Williams %R oversold .
Price structure: dropping inside a descending parallel channel since ~May 12 and down ~40% from highs .
Key support zone: ~$0.00000900–$0.00000920, roughly the channel bottom and recent swing lows .
Immediate resistance: broken mid-channel at ~$0.00000950–$0.00000960; next above at ~$0.00001020–$0.00001050 .
🎯 Best Trade Setup: Continuation Short
Setup Entry Stop-Loss Take-Profit Targets
Short On breakdown below $0.00000900–$0.00000920 with red-close bar Just above entry zone (~+5%) TP1: $0.00000850 (next support); TP2: $0.00000800–$0.00000820 zone
✅ Rationale:
Price currently testing critical lower channel support—failure suggests continuation downward .
Stretched indicators and bearish structure increase probability of breakdown beyond support.
🔁 Alternative Bounce Setup (Lower Probability)
Long entry: If PEPE holds and forms bullish reversal within $0.00000900–$0.00000920
Stop-Loss: Just below support zone
Profit targets: Short-squeeze rebound to $0.00000960 and possibly $0.00001050
Note: This is a counter-trend play—require clear bullish candle + strong volume; riskier given bearish trendyness .
