PEPE Bounces from Key Support as Bulls Target $0.00002
PEPE has made a technical recovery after a brief pullback, now trading around $0.00001362 after defending support near $0.00001148.
This bounce comes amid increasing bullish signals across multiple indicators, suggesting that the recent dip could have been a healthy retracement in an ongoing uptrend.
The meme coin had recently surged to as high as $0.00001444 before retreating, but price action has remained constructive, with daily closes forming higher lows over the past week. Notably, buyers stepped in aggressively at the $0.00001145–$0.00001148 range—an area that previously acted as resistance and has now flipped to strong support.
Momentum Indicators Point to Continued Strength
The Relative Strength Index (RSI) remains elevated, hovering in bullish territory but cooling off slightly from earlier overbought levels. This moderation reflects a healthy consolidation rather than a trend reversal. Despite the short-term pullback, the RSI staying above 70 suggests that buying pressure still dominates.
Daily chart for PEPE/USD (Source: GeckoTerminal)
Similarly, the MACD line remains above its signal line, although the histogram has started to narrow. This narrowing suggests some loss in bullish momentum but not necessarily a shift to bearish control. It may signal a pause before another potential upward leg rather than the end of the current rally.
Exponential moving averages add further support to the bullish narrative. The 9-day EMA is comfortably above the 20-day EMA, maintaining a positive slope, which reflects a trending market still in favor of PEPE buyers. As long as this dynamic holds, bulls may continue to control the pace of the market.
Resistance Ahead: Can PEPE Push Higher?
PEPE faces immediate resistance around $0.00001671, a level that previously triggered selling pressure. A decisive breakout above this threshold could open the door to a rapid test of the next key barriers at $0.00001926 and $0.00002030. These levels coincide with previous local tops and may challenge the sustainability of any breakout.
If PEPE buyers manage to reclaim and hold above $0.00001671, the next upside leg could attract momentum traders, driving a swift move to higher resistance levels. However, failure to clear this range might invite short-term profit-taking and test the commitment of recent buyers.
Trade Setups: Long and Short Considerations
For bullish PEPE traders, a breakout above $0.00001671 with strong volume could offer a compelling long entry, targeting $0.00001926 and possibly $0.00002030. A safer entry could be a retest of $0.00001450–$0.00001480, provided that the support structure remains intact.
On the downside, if PEPE slips below $0.00001148 and closes under $0.00001145, this may signal a short-term trend shift and provide an opportunity for short sellers targeting $0.00001096 or lower. This bearish scenario would gain traction only if key support zones are invalidated with conviction.
Risk management is critical in both scenarios, given PEPE’s volatility. Stop-loss orders just below support for longs, or above resistance for shorts, can help mitigate risk.
Outlook
While PEPE still needs to confirm a full breakout, the current setup favors the bulls, with strong momentum indicators and a well-defended support base. Traders should closely monitor how PEPE behaves near $0.00001671, as that level will likely determine whether the next move is a breakout continuation or a bearish rejection.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
