The PEPE price shows it drifting in a range with lower highs and lower lows after failing to hold key resistance around $0.00000405, signaling a short-term bearish bias. The move from the swing high to the recent swing low near $0.0000039 represents a decline of approximately 3%, reflecting increased seller control. At the time of writing, PEPE is trading at $0.000003954, suggesting a 1.59% decline in the last 24 hours. PEPE price chart, Source: CoinMarketCap PEPE Tests Key Support, Setting Up Potential Bullish Reversal The PEPE/USDT 3-day chart shows the price currently testing the lower boundary of a well-defined descending channel around the $0.00000399 level, which coincides with a critical support zone ranging roughly from $0.00000330 to $0.00000440. Historically, the market has respected this support multiple times, bouncing off it after sustained downward pressure, indicating that buyers are stepping in at these levels. The repeated defense of this zone suggests accumulation, which could set the stage for a potential reversal after prolonged selling pressure. Source: X According to analyst Butterfly, the price action implies building bullish momentum as it consolidates near the support boundary. If PEPE holds above $0.00000399 and breaks out of the descending channel, the chart indicates a strong probability of a sharp upward move, potentially targeting the channel’s upper boundary and higher resistance levels around $0.00000200. This setup reflects a classic “pressure buildup at support” scenario, where the market could accelerate upward once sellers are exhausted and buyers gain control. PEPE Holds Support as Bearish Momentum Fades On the 1-day PEPE/USD chart, the broader trend remains bearish to neutral, with price continuing to move sideways after a prolonged downtrend. PEPE is trading around the $0.00000398–$0.00000400 region, showing limited upside momentum and lower highs over recent weeks. Immediate support is located near $0.00000390, which aligns with recent daily lows and has prevented deeper pullbacks. A stronger support zone sits slightly lower around $0.00000370–$0.00000380, where buyers previously stepped in. On the upside, resistance is capped near $0.00000415–$0.00000420, followed by a more significant resistance zone around $0.00000450, where selling pressure has consistently emerged and rejected price advances. PEPE 1-day price chart, Source: TradingView The RSI is at 40.24, reinforcing the lack of strong momentum in either direction. Meanwhile, the MACD remains below the zero line, with the signal and MACD lines close together, indicating subdued bearish momentum and a potential early stabilization phase. The histogram is shallow and slightly improving, hinting that downside pressure is fading, but a clear bullish signal would require a MACD crossover and expansion above zero to confirm trend reversal strength.
