$PEPE – Oversold & On the Edge? Reversal Brewing?

$PEPE just touched a new 24H low at $0.00001124, now hovering at $0.00001142 after an -8.05% daily drop. Painful selloff, yes – but signs of an oversold bounce are flashing.

Technical Breakdown (4H Chart):

📉 RSI (6): 23.6 – Deep in oversold territory. Historically, this leads to strong mean reversion in meme coins.

📊 Volume Spike: Increasing volume on red candles suggests panic selling – but possible exhaustion?

📍 Support Zone: $0.00001120–$0.00001140 – holding for now, key area from prior bounce.

📈 Resistance Ahead: $0.00001180–$0.00001230 zone. Flip this and bulls might regain momentum.

What’s Next?

Price is coiling near major support with extreme RSI compression. If $0.00001120 holds and bulls push price above $0.00001180 with volume, we could see a rapid short-term relief rally. Watch the MACD for crossover confirmation.

Trade Ideas:

⚔️ Aggressive Entry: $0.00001135–$0.00001145 (tight SL below $0.00001108)

🛡️ Safer Entry: Reclaim and retest of $0.00001180 with volume

🎯 Short-Term Target: $0.00001280

🚀 Mid-Term Target: $0.00001450

🔒 Stop-Loss: $0.00001108 (under recent wick support)

Oversold Doesn’t Mean Game Over — It Means Opportunity.

$PEPE’s RSI rarely stays this low. Meme coin reversals are often sharp and quick – don’t chase, wait for confirmation. Eyes on volume and candle structure. 🐸📉📈