Price Analysis of Pepe: The Recovery is Heading Towards Key Resistance
The return that PEPE saw during the previous month was the second bounce in a double bottom pattern that was emerging along a support zone that has defined major lows since mid-2024.
A complete advance is expected to result in an additional push of 87% towards the resistance zone of $0.0000168, despite the fact that the first stage of gains has already been realized.
An advance is often confirmed with a strong breakout above the neckline, which in this case is the resistance around $0.00000855; however, the price of PEPE has remained stagnant over the past few days.
If the meme coin cannot maintain its position above this level, it risks seeing a severe reversal towards the support zone and its year-to-date low of $0.000005725, which would represent a drop of 41% from this point.
With the MACD line remaining above the signal line and the RSI operating sideways above neutral, the momentum indicators continue to point in a positive direction.
The recent drop has not yet resulted in a complete reversal of the trend; nonetheless, the current setup remains in a precarious position. PEPE's action is susceptible to headwinds from the broader market, especially amid economic uncertainty.