PEPE is back in focus after a breakout from its longest daily downtrend, while Bitcoin trades above the $100,000 level. Gems hunter Lyx on X claims that PEPE price has exited its toughest descending channel and is now forming a pattern of higher highs and higher lows.
Historically, this has led to explosive rallies in the token’s past. With Bitcoin testing a key psychological resistance, some traders are watching closely for spillover momentum into meme coins.
The technical pattern, combined with rising social sentiment and improving structure on the daily chart, has placed PEPE back on the radar for speculative traders.
What you'll learn 👉
PEPE Exits Descending Channel After Multi-Month Decline
On the daily chart, PEPE price has broken out of a descending channel that kept it contained since late December 2023. The downtrend showed lower highs and lower lows, which tells us sellers were in control for several months. The pattern was defined by two parallel trendlines that acted as dynamic resistance and support.
At writing, PEPE has gained nearly 25%, accompanied by a 150% surge in trading volume. This combination of price movement and heightened activity supports the breakout as technically valid. The chart now shows a developing uptrend, with higher lows and higher highs forming for the first time since the peak of PEPE’s last rally.
PEPE Price Resistance and Volume Levels to Watch
The price of Pepe is testing horizontal resistance near $0.00000750, a level that has held as a ceiling multiple times. A daily close above this range could trigger further upside. The next price targets are found between $0.000010 and $0.000012, zones where PEPE previously faced selling pressure.
The recent spike in trading volume, alongside the breakout, adds weight to this current move. Further upside could be seen if volume continues to rise and price sustains above resistance.
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Furthermore, Lyx’s tweet outlines a historically bullish setup and emphasizes the timing with Bitcoin’s breakout above $100,000. The post links this move with rising confidence across the market, suggesting that investors may now be more willing to rotate into speculative assets, including meme coins.
This shift in sentiment comes at a time when technical momentum and on-chain engagement for PEPE are improving. Should Bitcoin maintain levels above $100K, traders could see increased demand for altcoins with high beta, and the PEPE price remains among the most closely watched in that category.
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