$PEPE – Quick Market Take (May 17)
$PEPE just had a heavy drop, touching a 24H low of 0.00001212 before bouncing slightly to 0.00001247. That’s still an -8.58% daily loss, but the short-term picture might be shifting.
What’s Happening on the Chart:
Massive sell-off from ~0.00001380 over the past 24 hours.
Support held at 0.00001212, a level tested multiple times.
Last candle shows a small bullish reaction, suggesting buyers are trying to step in.
Real Signals:
Short-term support: 0.00001210 – If this breaks again with volume, PEPE could drop toward 0.00001180 next.
Resistance to watch: 0.00001274 – Price needs to reclaim this for any real bullish momentum.
Buy Signal (Cautious): If price holds above 0.00001240 for a few candles with increasing volume, could aim for 0.00001290+.
Sell Signal: Rejection near 0.00001274 or loss of 0.00001210 zone = downside risk.
Market Sentiment:
Buy/Sell ratio: Pretty even (50.86% buy vs. 49.14% sell) – market’s indecisive.
Volume is high (16.27T PEPE) – plenty of action, which can mean big moves either way.
Performance Recap:
7D: +0.08% (flat)
30D: +79.17% (strong momentum)
180D: -43.88% (still recovering)
My Take:
If you're looking for a quick scalp, there's potential here only if 0.00001240 holds and the next hourly candle is bullish. Otherwise, wait for clearer structure — no need to catch a falling knife. Long-term holders might want to chill and zoom out.
⚠️ DISCLAIMER:
Not financial advice. Crypto is volatile — invest wisely, and always DYOR.