Breaking the falling wedge—momentum shift or sell-off ahead?

🔍 Price & Volume Snapshot

Current price: ~$0.00001002

24h change: −4% (from ~$0.00001083 → ~$0.00001002)

Performance: PEPE is down ~32% from its mid‑July high near $0.00001083

Volume: Spiked during the decline—capitulation indicator with ~3.26T tokens traded

🧠 Technical Structure & Indicators

Falling Wedge Breakout (July 10–mid‑July)

PEPE broke above a multi‑week falling wedge pattern in early July, signaling a potential reversal. Following the breakout, Chaikin Money Flow (CMF) turned positive and Bollinger Bands expanded—both bullish signs . Yet recent drawdowns reversed some of that early strength.

Momentum Signals

CMF: Remains above zero, suggesting underlying demand

RSI: Currently neutral (≈30–70 band on daily, no strong divergence)

Moving Averages:

4‑hour MA is sloping down → short‑term bearish bias

200‑day MA is sloping up and trading below the price → longer‑term support

Technical Ratings

According to Investing.com’s technical summary, PEPE is flagged as Strong Sell on daily charts, though higher timeframe trend signals remain somewhat bullish .

💡 Key Support & Resistance Levels

Resistance: $0.00001080 – former July swing high. Recent failure to break above intensified selling.

Support: $0.00001000 – intraday low. Further support between $0.00000997 and $0.00000990.

Short‑term target: If bears continue, downside could extend toward $0.00000880–$0.00000800 range by early to mid‑August .

📉 Forecast & Sentiment Overview

Time Frame Outlook Key Levels

Next 5 days Bearish $0.0000080–$0.0000088 (target)

This week Range-bound / Weak $0.0000100 support & $0.0000108 resistance

Late Aug–Sep Neutral to bearish $0.0000073–$0.0000104 range forecast

CoinCodex projects a decline to ~$0.000008 by August 10—about −22.6% from current levels . Binance Square predictions align, placing average price between $0.00000726 and $0.00001040 through late August .

🧠 Analyst Take

The falling wedge breakout earlier in July suggested building bullish momentum—but the sharp sell‑off tied to macro fears (e.g. US import tariffs, high-profile holder liquidation) has put the reversal to a test.

Volume spike and RSI retreat point toward short-term distribution, not accumulation.

Bull case remains alive provided PEPE can reclaim $0.0000108–$0.0000110 and stabilize. Otherwise, more downside automation is likely.

✅ Bottom Line

PEPE is currently in a cautious phase: the initial bullish breakout faded, and macro-driven selling pressure has reversed gains. The technical structure now leans bearish for the short-term—particularly if price breaks below $0.00001000 support.

That said, broader market conditions and sentiment shifts (e.g. meme-coin sentiment, whale behavior, Fed policies) will determine whether this is a temporary pullback or the beginning of extended weakness.

Key levels to monitor:

✅ upside reclaim: $0.00001080–$0.00001100

⚠️ critical support breach: below $0.00001000

$PEPE

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