PEPE's share has seen a decline of 4% over the past 24 hours, settling at a price of $0.00001180, coinciding with a noticeable decrease in trading volume of 28%, indicating weak momentum following the recent breakout.
Despite this pullback, technical indicators suggest that it is part of a healthy accumulation phase, rather than a negative reversal in the overall trend. The stock shows the formation of an ascending triangle pattern, maintaining adherence to a strong primary support line, which is historically a positive signal often preceding sharp rallies once selling pressure eases and liquidity increases.
On the other hand, the Relative Strength Index (RSI) has dropped to 31.00, indicating that the stock has entered the oversold territory, a zone that is often accompanied by temporary price bottoms. In the same context, the MACD indicator shows signs of stabilization, which could signal a near-term shift in momentum.
If PEPE records an additional drop below the $0.00001100 level, this may attract intense buying from major investors (whales) above the trend line, potentially triggering a new upward wave.
🎯 Potential price targets
If this scenario succeeds, PEPE could target $0.00005000 as its first target, representing an increase of almost 500% from its current levels. In the medium term, it could aim for the $0.00005940 area, a level that previously coincided with the March peaks.
📈 Is PEPE preparing for a historic breakout?
With strong technical support factors available, including a clear upward trend, resetting in technical indicators, and strength in chain trading, it seems that PEPE has all the ingredients to achieve its biggest breakout yet – provided it successfully overcomes the recent pullback.
