PEPE Price at Key Support With 600% Breakout Potential

$PEPE moved up from the $0.00000367 level and peaked near $0.0000039, showing short-lived bullish strength. $PEPE then faced strong rejection at higher levels and declined sharply, signaling increased selling pressure. $PEPE is currently consolidating around $0.00000376, where buyers are attempting to stabilize the price. $PEPE’s reduced volatility suggests momentum is cooling, pointing to a possible range-bound move unless volume returns.

$PEPE at a Make-or-Break Zone as Long-Term Breakout Potential Builds

According to analyst 𝐋𝐨𝐧𝐠𝐓𝐞𝐫𝐦®, $PEPE has been in a prolonged downtrend on the weekly timeframe, defined by a clear descending trendline connecting lower highs. Price has steadily compressed lower over the past months, eventually reaching a major historical support zone near $0.0000039, where selling pressure appears to be weakening, and volatility has contracted.

The chart highlights this support as a potential long-term accumulation area, with a projected upside scenario targeting a 600%+ move if $PEPE successfully reverses the trend. A decisive breakout above the long-term descending trendline would be the key confirmation, potentially opening the door for a strong bullish expansion toward prior supply levels.

$PEPE Price Struggles Near Key Support as Bearish Momentum Persists

On the 1-day timeframe, $PEPE remains in a broader downtrend, marked by consistent lower highs and lower lows. Recent price action shows weak rebounds followed by renewed selling, keeping price compressed near the $0.0000038 area, which acts as short-term support. The inability to sustain upside momentum suggests bears are still in control, with buyers showing limited follow-through.

Looking at indicators, the relative strength index (RSI) is hovering around the mid-to-lower 30s, signaling weak momentum and near-oversold conditions but without a clear bullish divergence. The MACD remains bearish, with the signal lines below zero and red histogram bars expanding, indicating continued downside pressure.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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