The PEPE/USDT trading pair has recently experienced a significant trend breakdown, raising alarms among market participants. With the price slipping below a crucial ascending support trendline, the market is now at a pivotal decision point. Currently hovering around 0.00001311 USDT, reflecting a 5.64% increase, traders are closely monitoring the next potential move.
Notably, cryptocurrency analyst CryptoKaleo has cautioned that the price could experience another flush before any possible recovery. The market structure remains delicate, with support and resistance levels becoming crucial factors in determining the pair’s future trajectory.
As much as I'd like the bottom for memes to be in, still think there's a good chance we see one more flush looking at HTF trend breakdowns like this one for $PEPE.
— K A L E O (@CryptoKaleo) January 30, 2025
Setting some stink bids in this range. If they hit, we ride them to valhalla. pic.twitter.com/8DfAvqEc09
Key Support and Resistance Levels Under Scrutiny
A red-circled region highlights the key breakdown area where PEPE lost its support, signaling potential weakness in the short term. On the other hand, a green rectangular zone marks a previous accumulation area, suggesting that strong buying pressure could emerge in this region. Traders are keenly watching to see if the price will retrace to this zone before attempting a rebound.
Analysts project that PEPE may retest the support area before any upward momentum materializes. However, if the price drops below the green zone, it could negate any bullish recovery scenario. Notably, volume spikes during significant price movements suggest strong market activity, reinforcing the importance of these critical levels.
Market Trends and Volume Analysis
PEPE‘s price action has generally followed a broader uptrend, with periodic corrections along the way. The recent breakdown suggests a shift in sentiment, with traders adjusting their positions accordingly. The volume indicator highlights notable spikes during key price movements, underscoring the significance of these levels.
Also Read: PEPE Memecoin Rebounds After Bitflyer Listing: $10.15 Million Outflows Signal Potential Rally
With bids at 0.00001313 USDT and asks at 0.00001312 USDT, the market reflects a tight spread and strong participation. The next decisive move hinges on whether buyers can defend the support zone. If the price holds, an upward movement could align with historical trends; otherwise, a deeper correction may follow, affecting overall market sentiment.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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