PEPE: Compression deepens as market awaits a decisive break
PEPE is at a critical juncture, compressing within a descending wedge pattern as leverage builds and traders await a decisive breakout. Key support lies at the $0.0000037–$0.0000039 demand zone, with a breakdown risking a fall toward $0.0000030. A breakout above wedge resistance near $0.0000050 could propel the price toward $0.0000063 and $0.0000079. Spot buyers are consistently absorbing sell pressure, providing a stabilizing base, while Open Interest has risen 7.6% to $222 million, indicating new leveraged positions. Long/short ratios show a fragile balance (52% vs. 48%), meaning a small move could trigger rapid, forceful expansion. The next break will likely be swift and decisive.
ambcrypto12/24 17:03
