It’s funny how fast people start panicking the moment they see a red candle.

Looking at this $PEPE ‌ chart, that dip toward the bottom was a massive trap for the bears.

That long wick tells me there is a lot of buying interest sitting down there. We’ve recovered quite a bit since that low point, but we aren’t out of the woods just yet.

Right now, the price is testing a heavy area where sellers usually step back in. If we can’t push through this current level and hold it, we might just see a slow bleed back down to find more support.

The volume is decent, but it needs to stay consistent if this move is going to stick.

I’m watching to see if we can flip this resistance into the floor. If the momentum dies out here, it’s probably going to be a boring couple of hours of sideways movement.

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