$PEPE plunges into panic zone; can Memecoin hold its ground?
$PEPE has fallen for the fifth consecutive trading day, approaching the critical support level of 0.00001000. After peaking near 0.00001400, the price has steadily declined, falling over 13% over the past seven days. Meme's momentum has cooled, and market interest is waning, as evidenced by the lower highs and extended bearish candlestick pattern.
What's next?
If 0.00001000 fails to hold, PEPE could quickly fall to 0.00000950 or even 0.00000900.
A rebound from this area is possible, but 0.00001100 would be necessary to reverse market sentiment.
Short Trade Setup
Entry Point: 0.00001055 – 0.00001070
Stop Loss: 0.00001110
TP1: 0.00001000
TP2: 0.00000950
TP3: 0.00000900
PEPE is in danger. If buyers fail to hold 0.00001000, memecoin could enter a deeper correction. Keep a close eye on the volume reaction to this key support level.