Based on the current chart of PEPE/USDT, here is a quick technical analysis:
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Displayed data:
Current price: 0.00001289 (down -7.00%)
Lowest price in 24 hours = current price, meaning the currency is at a temporary bottom.
The price is now below the MA60 moving average = negative signal.
There is a very long red candle with clear selling pressure (as shown in the very high trading volume).
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Technical signals:
The current trend is clearly downward.
The daily loss percentage (4.07%) is relatively significant.
The price has broken short-term support levels.
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What to do now?
If you own the currency:
Do not sell now at a significant loss, as the price has reached a support area and a temporary rebound may occur.
It is better to wait a little or sell a small portion of the amount to reduce risk if you are worried about continued decline.
If you are thinking about buying:
It is not recommended to buy now, wait for a rebound confirmation or a strong green candle to form.
It is better to wait for the price to stabilize above 0.00001330 again.
