$PEPE - General Outlook

Meme tokens have been hit hard for a long time. Pepe is no different than the general. The green line was a long-term support area, but it has already lost 62% of its value from the peak level to here, and the declines continue with the loss of this level.

I showed the daily downtrend with the red solid line and there is no sign of a reversal yet.

Right now, the 709 level is an important weekly support level. If this level is lost, the declines may deepen towards the levels I marked below.

Although I did not show it on the chart, on the short term, there is a range formation and if it can hold on to 736 on a daily basis, it can show a rise up to 892, but in order for the decline to end, this level must be breached quickly with voluminous candles and it must be able to rise above the red box in the middle.