Time to short?

🐸 PEPEUSDT – Breakdown of Ascending Channel & Potential Drop to Key Support

📉 Timeframe: 1D
🗓️ Date: July 9, 2025


---

🧠 Technical Overview:

After several weeks of consolidation within a short-term ascending channel, PEPE has reached a key resistance zone and is showing signs of bullish exhaustion. Volume divergence and failure to break resistance with strong momentum are increasing the probability of a bearish breakdown.


---

📌 Key Levels:

✅ Major Resistance: 0.00001150 – 0.00001200

🟡 Mid-Term Support: 0.00000929 (currently being tested)

🔴 Critical Support: 0.00000597 – a historical low with strong previous reactions



---

📊 RSI Insight:

The RSI is currently hovering in the neutral zone (45–55).
A failure to push above the 60 level could signal continued bearish pressure.


---

💡 Trade Idea (Short Setup):

If price confirms a breakdown below 0.00000929:

Short Entry: Below 0.00000900

Target 1: 0.00000780

Target 2: 0.00000597

Stop Loss: Above 0.00001100 or invalidation of the channel breakdown



---

⚠️ Disclaimer:

This is a technical analysis-based outlook and not financial advice. Always apply proper risk management and stick to your stop loss.