Market Update: $PEPE Testing Key Levels
I’ve been watching PEPE closely after that recent local top, and the technicals are signaling a period of distribution. We’re currently seeing the price struggle to reclaim the short-term moving averages, creating a heavy overhead supply zone around 0.00000394. While the long-term trend remains intact, the immediate price action looks Bearish for a scalp as we look to find a solid floor. I’m playing the rejection here, expecting a sweep of the lower liquidity levels before the next major decision point.
Trading Signal: SHORT (Scalp)
Entry Zone: 0.00000393 – 0.00000395
Take Profit: 0.00000388 / 0.00000385
Stop Loss: 0.00000399