PEPE/USDT - Potential Breakdown from Ascending Channel
2024-10-09

hello guys.

 Price Action: 
PEPE/USDT is currently trading within an ascending channel but showing signs of a potential breakdown.
The price has been rejected from the top of the channel and is now hovering near the support zone around 0.00000918 USDT.

 Support and Resistance:
 Key support lies around 0.00000860 USDT as shown in the highlighted box. If the price breaks below this level, a sharper drop is likely.
The next major support zone is between 0.00000770 USDT and 0.00000740 USDT, where the price might stabilize if the breakdown continues.

 Bearish Scenario:
 The chart suggests a possible breakdown if the price fails to hold above the current support levels. The descending arrow highlights the potential path to lower support zones.
If the breakdown happens, price could fall toward the 0.00000755 - 0.00000717 USDT zone, possibly testing the lower boundaries of the channel.

 Bullish Scenario:
 A reversal could occur if the price manages to hold above 0.00000918 USDT and reclaims its previous high near 0.00000980 USDT, but this would require strong buying momentum.
