$PEPE /USDT — 0.00000349 (2H TF)

A descending channel that's been in control since the February 25th spike, and at the bottom of it sits a grey demand zone that's been the only thing keeping this from getting worse. That's the setup right now — channel pressure meeting support, and something has to give.

Every bounce attempt inside this channel has been capped by the upper trendline without exception. Price hits it, rolls over, comes back down to the grey zone at 0.00000340–0.00000350. That zone has absorbed the selling multiple times but each touch of it erodes confidence in it holding.

Current price at 0.00000349 is right on the edge of that zone. The lower channel boundary is converging with the grey zone floor right now — which makes this a meaningful confluence point. Either buyers defend it here where both structures meet, or the channel wins and price breaks below 0.00000340 into open space.

Breaking below the grey zone on a 2H close is the key risk. There's not much visible support until significantly lower and the channel slope would accelerate that move