$PEPE recently formed a weak high near 0.00001470 and has been in a continuous downtrend since. A brief 17% bounce provided temporary relief, but the price has now printed a new daily low at 0.00001032.
If the price breaks above or reacts to the local resistance at 0.00001080, there is a possibility of testing the next resistance around 0.00001164.
However, as long as the price remains below 0.00001200, the bearish trend is likely to stay intact.
Momentum still favors sellers
Bulls must defend current levels to prevent further downside.
