Pepe (PEPE) is under serious pressure right now. A new chart shared by analyst Steph IS Crypto shows the meme coin slipping below key support.
PEPE price is trading near the $0.000011 level, and the chart reveals a classic symmetrical triangle pattern that has been forming for months. These triangles usually end with a strong breakout or breakdown, and this time the arrow points down.
Steph called it out bluntly on X, saying, “$PEPE is losing support! 😱” The warning is clear: after weeks of sideways trading and compression, the price is testing the lower boundary of the triangle. If that floor gives way, PEPE could face a steep fall.
What you'll learn 👉
What the Chart Is Showing
On the 3-day chart, PEPE price action has been squeezing tighter between two downward- and upward-slanting trend lines. Each rally hit lower highs, and each dip found higher lows.
This kind of compression can’t last forever. The current candle shows PEPE touching the lower support line, with a downward arrow signaling potential continuation.
There’s very little nearby support if the break holds. Below the triangle, price levels like $0.000007 and even $0.0000045 could come into play. Traders often view such breakdowns as a sign of heavy selling or the start of a bigger bearish leg.
PEPE Market Sentiment Right Now
The mood across the meme coin market has already cooled. Both Shiba Inu and Pepe have lost value over recent weeks, but PEPE’s technical setup now looks more fragile.
Volume is relatively low, and there hasn’t been enough bullish pressure to push the token back toward the upper side of the triangle. That combination of weak buying and clear resistance gives bears the upper hand for now.
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Short-Term Outlook for PEPE
If PEPE price cannot reclaim support quickly, a deeper correction seems likely. A decisive daily close below the triangle would confirm a breakdown and could accelerate a move toward lower Fibonacci targets. For traders, the next few days are critical.
Still, crypto markets can surprise. A sudden surge in volume or a broader meme coin rally could flip the script and trap shorts.
But until that happens, Steph IS Crypto’s chart paints a cautious picture: PEPE is on the brink, and unless buyers step in soon, a major breakdown may be just around the corner.
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