$PEPE /USDT Trade Setup🎃#
SELL
The chart shows a strong move down after PEPE failed to break through resistance at 0.00001084. The price is currently consolidating around 0.00001030, which may serve as a temporary support level.
Here are two potential scenarios and their corresponding trade setups:
Scenario 1: Short Setup (Bearish)
This setup is based on the recent downward momentum and the rejection at the resistance level.
Entry: Enter a short position if the price breaks and closes below the current support level of 0.00001030.
Stop Loss: Place the stop loss just above the recent high, at 0.00001084, to protect against a reversal.
Target: The next logical support is the 24-hour low at 0.00001014. A more aggressive target could be the previous low around 0.00001012