$PEPE 1Hr Chart Analysis

A rising wedge forms when both highs and lows are moving up but with converging trendlines.

Price is currently testing the upper resistance, near 0.00001337.

⚠️ Bearish Risk Ahead

Rising wedges often break down to the downside when confirmed.

If support is lost (around 0.00001280–0.00001260), we may see:

🔽 Pullback to 0.00001220 or 0.00001180 support levels

Breakdown confirmation = candle close below wedge support with volume spike

✅ Invalidation (Bullish Breakout)

A breakout above 0.00001340+ with strong volume invalidates the wedge

In that case, momentum may extend toward 0.00001400 - 0.00001500

This wedge comes after a recovery bounce, so bulls need to guard the support trendline closely. If it snaps, it might trigger profit-taking or short entries.