PEPEUSDT 4h Analysis: Potential Reversal

In recent weeks, PEPEUSDT has experienced a prolonged downtrend, indicating a bearish market sentiment. However, on the 4-hour timeframe, an intriguing pattern is emerging – the Falling Wedge. This pattern is characterized by converging lower highs and lower lows, suggesting a potential reversal in the near future.


Key Levels to Monitor:

1. Support at 6024: This level has acted as a significant support in the past. If the price approaches this mark within the Falling Wedge, it might signal a potential bounce.
2. Resistance of Downward Channel: Observing the upper boundary of the current downward channel is crucial. A breakout above this resistance could indicate a shift in market sentiment.


What to Watch:

- Wedge Breakout Zone: The Falling Wedge pattern often leads to a bullish breakout. Keep a close eye on the price movement within the wedge. A breakout above the upper trendline could initiate a potential upward move.


Possible Targets:

1. 6600
2. 6800
3. 7000

These levels represent potential price targets if the Falling Wedge pattern resolves with a bullish breakout. However, it's important to remain cautious and wait for confirmation, as price action in crypto markets can be highly volatile.


As always, it’s recommended to use proper risk management and wait for a confirmed breakout before making any trading decisions.

💜Happy trading!