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PEPE Needs Close Above $0.00001030 to Reverse Bearish Momentum
- PEPE is trading below $0.00001000 after a 3.60% decline, continuing a downward trend since early May.
- Resistance is seen around $0.00001200–$0.00001250, with weakening support near $0.00000920–$0.00000950.
- Moving averages on the 4-hour chart indicate a downward trend, with sellers dominating intraday trading.
- A close above $0.00001030 is required to shift momentum and suggest a possible reversal.
- PEPE is trading at $0.00000992, showing a 3.60% decline on the daily chart.
- The market trend for PEPE is bearish, with lower highs and lower lows observed since early May.
- Attempts to reclaim key resistance levels have failed, highlighting $0.00001200–$0.00001250 as a strong supply area.
- PEPE is currently hovering above the $0.00000920–$0.00000950 support range, which may lead to a downside target of $0.00000800 if broken.
- On the 4-hour chart, all major moving averages are trending downward, suggesting a bearish outlook.
- A close above $0.00001030 on the 4-hour chart is crucial for a potential bullish reversal.
- Until a close above $0.00001030 occurs, the prevailing structure favors the bears.
- PEPE is currently in a downtrend below $0.00001000, highlighting the need for buyer intervention to reverse the pressure.
- Traders should monitor potential breakdowns below $0.00000920 or breakouts above $0.00001030 for future market direction.
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