Based on the 4-hour chart for PEPE/USDT from Binance, here's a technical analysis:

Current Price Action

Current Price: 0.00001249 USDT

24h Change: -8.43%

24h High/Low: 0.00001377 / 0.00001212

Moving Averages (MA)

MA(7): 0.00001278 — Above current price, showing short-term bearish pressure.

MA(25): 0.00001350 — Price is also below this, confirming medium-term weakness.

MA(99): 0.00001102 — Still above this longer-term MA, suggesting long-term uptrend intact.

Trend and Structure

Recent Peak: 0.00001541 (strong spike on high volume).

After the peak, the price is in a retracement phase, forming lower highs and lower lows — a short-term downtrend.

Still significantly higher than the late March low (0.00000571), showing it has retained longer-term bullish structure.

Volume Analysis

Volume spiked strongly during the rally near 0.00001541.

Current volume is decreasing during the pullback, which is typical in a healthy retracement — a bullish signal if demand re-emerges.

Key Support Levels

0.00001163: Local support zone (May 11 wick support).

0.00001102: Long-term MA(99) support.

0.00000949 – 0.00000736: Stronger historical supports.

Resistance Levels

0.00001278: Immediate resistance (MA7).

0.00001350: Next resistance (MA25).

0.00001541: Local top; major resistance.

Indicators Not Shown But Suggested

RSI (Relative Strength Index): Likely cooling off — check if approaching 30–40 range for possible oversold conditions.

MACD: Look for bearish crossover or flattening for confirmation of pullback strength.

Outlook Summary

Short-term: Bearish retracement.

Medium-term: Caution advised; wait for signs of support at 0.00001163–0.00001102 and bullish reversal patterns.

Long-term: Still bullish if price holds above MA(99) and maintains higher lows.