PEPE is trading at around $0.00000368 at the time of writing, down roughly 9.41% over the last 24 hours. The price struggled to hold above $0.00000395 before sellers pushed it lower. Bearish pressure increased as support weakened, leading to a steady downward move. Lower highs continue forming, confirming short-term weakness in momentum. If $0.00000370 fails, the price may drop toward $0.00000350.
PEPE Eyes Bullish Breakout as Falling Wedge Signals Potential Rally
The PEPE/USDT 2-day chart, analyzed by Cryptorphic, shows price forming a Falling Wedge pattern, a classic bullish reversal setup. Current price sits at $0.00000401, approaching the upper wedge resistance, signaling potential upside if broken. The lower trendline has acted as strong support multiple times, indicating buyers are stepping in near lows. Recent candles suggest growing bullish momentum, hinting at a possible short-term trend reversal.
Cryptorphic points out that the RSI indicator confirms a bullish divergence, bouncing from oversold levels while the price made lower lows. A breakout above $0.00000478 could trigger further gains, attracting more buyers and increasing market attention. Traders should watch the trendline closely, as breaking this wedge could accelerate PEPE’s rally, potentially reversing the broader downtrend. Volume and momentum in the coming sessions will be key to confirming the move.
PEPE Nears $0.0000198 Target as Falling Wedge Breakout Looms
Meanwhile, according to analyst AvatardOnXRPL, PEPE is compressing within a falling wedge, showing weakening selling pressure. The price is hovering near $0.0000038, close to the wedge apex, where breakouts often occur. The structure reflects tightening lower highs and lower lows, signaling a potential shift in momentum. A breakout above the descending resistance could trigger a strong bullish reversal.
The projected breakout target sits near $0.0000198, suggesting significant upside potential if momentum builds. Volume contraction supports the expectation of an imminent volatility spike. If buyers step in with strength, price could transition quickly into an aggressive rally phase. However, failure to break upward may keep the price consolidating along support before another breakout attempt.
Source: https://coinpaper.com/15498/pepe-price-struggles-amid-bearish-pressure-as-falling-wedge-signals-potential-breakout
