Pepe (PEPE/USDT) Continues Bearish After Pullback to Previous Support
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PEPE/USDT Price Analysis: PEPE/USDT Returns Back to Its Bearish Move After a String Rally
PEPE/USDT remains under strong bearish pressure after price swept liquidity below the support zone and failed to sustain a recovery. After the sweep, price reacted into a bearish order block and was rejected, pushing the market back into continuation of the downtrend structure.
PEPE/USDT Key Levels
Support Levels: $0.00000320, $0.00000295
Resistance Levels: $0.00000400, $0.00000640
On the daily timeframe, the market consolidated twice at price levels $0.00000640 and $0.00000400. Price swept liquidity before breaking above consolidation at $0.00000400 with huge momentum. This shows bulls’ attempts to reverse the market.
On the daily timeframe, the downtrend from January to February shows a falling flag chart pattern at price level $0.00000500. The market fails to make a higher high, and the market breaking below the flag pattern signals this price move is not just a corrective move but a bearish move that leads to the breakout of support at price $0.00000400.
Market Expectation
On the 4H timeframe, the Moving Average Convergence Divergence (MACD) from August to February shows the signal line and MACD line are both below the zero line, meaning this is a strong bearish move. The volume indicator shows increased activity during the support breakout, confirming participation from bears.
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