"PEPE/USDT 1H: Downtrend Persists – Wait for Reversal !

PEPE/USDT 1H: Downtrend Persists – Wait for Reversal Confirmation?

Current Market Structure:

• Bearish downtrend with clear lower lows and lower highs.
  
• RSI at 24.56, indicating oversold conditions, but no clear divergence has emerged.
  

Market Maker Activity:

• Distribution phase is complete; the market is now in a markdown phase.
  
• Smart money appears to be distributing at higher levels.
  

Key Levels:

• Resistance: 0.00001020
  
• Support: 0.00000842 (current)
  
• Major Resistance: 0.00001040
  

Risk Assessment:

• 8/10 – High-risk environment.
  

Recommendation:

• Do not take a long position despite oversold conditions.
  
• Wait for a clear reversal pattern or a double bottom formation before considering entries, as current price action suggests further downside.
  

Confidence Level:

• 7/10 based on clear market structure and volume profile.
  

🚀 Follow me on TradingView if you respect our charts! 📈 Daily updates!