- PEPE bounced from the lower boundary of a descending channel, showing increased buying activity and potential short-term upward momentum.
- The falling wedge pattern on PEPE/USDT indicates weakening bearish pressure, suggesting a breakout toward higher resistance levels is possible.
- PEPE consistently rebounds from its lower descending channel boundary, showing strong buying interest.
PEPE is displaying potential bullish momentum after prolonged downtrends, as key support levels appear to attract renewed investor interest. Technical setups suggest short-term rallies could emerge if buying pressure sustains at these zones.
PEPE Shows Bounce from Descending Channel
PEPE’s price recently touched the lower boundary of its descending channel on the 2-day chart, signaling a possible rebound. The lower trendline has repeatedly acted as a strong support area, attracting buyers during past downtrends.
Butterfly_chart noted that PEPE could move toward $1.50 if bullish momentum continues. The chart shows a projected green arrow, representing potential upward movement if the price maintains strength.
Volume analysis shows increased trading activity near the lower channel, suggesting renewed investor interest. However, confirmation requires PEPE to surpass the midline and upper resistance with sustained volume. A failure to clear these levels could maintain the price within the descending trend.
Wedge Pattern Suggests PEPE Reversal Potential
The 4-hour PEPE/USDT chart has formed a falling wedge formation with converging downward-sloping trendlines.This patterns often reflect a slowdown in bearish momentum and they precede a breakout.
Price recently broke above the wedge’s resistance zone, and marked the first step in a possible recovery. The initial bounce near the lower boundary confirmed strong buying pressure at that support.
Volume surges during this breakout reinforce the likelihood of a short-term rally. Traders are observing the price path projected in black on the chart, which outlines higher highs and higher lows leading toward resistance around 0.00000739–0.00000796 USDT.
Key Technical Levels to Watch
Investors are closely monitoring PEPE’s lower boundary as the strong support zone. The green shaded zone on the chart represents a target area that could act as a stepping stone toward $1.50.
If PEPE maintains its current support, a move toward higher resistance levels becomes more probable. Failure to hold this floor may result in a retest of lower levels within the descending channel.
PEPE’s recent bounce from support and favorable technical formations suggest that bulls are gradually gaining control. A move toward $1.50 could be achievable if momentum persists.
