$PEPE fell below the 0.0₅49 level. Two scenarios from here:
① It bounces back but fails to reclaim 0.0₅49 → the level turns into resistance, with the 24h low of 0.0₅479 as the next downside target
② It quickly reclaims 0.0₅49 → this looks more like a false breakdown, and short positions could easily get squeezed
I’m personally more focused on how the first bounce plays out.
#PEPE
① It bounces back but fails to reclaim 0.0₅49 → the level turns into resistance, with the 24h low of 0.0₅479 as the next downside target
② It quickly reclaims 0.0₅49 → this looks more like a false breakdown, and short positions could easily get squeezed
I’m personally more focused on how the first bounce plays out.
#PEPE