After consolidating for a period, PEPE's price has now broken below the support level. This breach suggests that there could be additional downward momentum in the near future, potentially leading towards the next support level. Additionally, on the 4-hour timeframe, there is a prominent double tops pattern observed over a strong resistance area. This pattern further reinforces the likelihood of a bearish movement in the market. Traders and investors should be cautious of the current situation and be prepared for potential further declines in PEPE's price.
