The 1000PEPE rebound this wave looks a bit "hollow".

From the 1-hour chart, the price surged to 0.0064345 and then started dropping. It has now fallen to 0.0060822, breaking through two key moving averages — MA5 (0.0061947) and MA10 (0.0061450). This kind of breakdown is usually not a good signal.

Looking at the technical indicators' reaction: RSI(6) is only at 42.32, still in the neutral-to-weak range; MACD is even more obvious — the red histogram volume is narrowing, DIF (-0.0000185) did cross above DEA (-0.0000352), but the momentum is clearly insufficient. Combined, signs of whales taking profits on the rebound are quite apparent.

**Operationally**, at the current price of 0.0060822, you can directly open short positions. Place your stop loss above the previous high of 0.0064345 for safety. The first target is 0.0059419 (the 24-hour low), and if it continues lower, the 0.005800 round number level is also worth watching.

Trend traders can hold positions firmly; short-term players shouldn't be greedy — partial profit-taking at support levels is more prudent. The biggest thing to watch out for is whales suddenly pulling a counterattack with a bull-trap pattern followed by a dump. Once key support breaks, it's easy to get stopped out.