PEPE price is hovering just below a key trendline that’s held it down since late 2024. Traders are watching closely as the meme coin tests resistance yet again, but is this setup ready for a breakout or just another rejection?
Let’s break down what the chart says right now, and whether throwing $2,000 into PEPE makes sense at this point.
What you'll learn 👉
PEPE Price Still Stuck Below Descending Resistance
PEPE has been trending downward since November 2024, with every rally hitting a ceiling at the same descending trendline. The chart shows at least four major rejections, with each test resulting in a new lower high.
Right now, the price is sitting around $0.00000735–$0.00000750, brushing up against that trendline once again. So far, there’s no breakout confirmed. Unless PEPE price can close above $0.00000800 with strong volume, the structure remains bearish, and the risk of another pullback is high.
That said, the price has shown signs of strength by consistently retesting this area, which could suggest buyers are gaining confidence.
PEPE Strong Support and Bullish Pattern Are Forming
While PEPE price is still under pressure, it has held the $0.00000600–$0.00000650 support zone multiple times. This level has acted as a floor in October, March, and again in April. Each bounce from this zone shows buyers are defending it hard.
There’s also a potential inverted head and shoulders pattern forming, which is a classic reversal signal. The left shoulder formed in early March, the head in late March, and the right shoulder is shaping up now. If this plays out, and the price breaks the neckline at $0.00000830, PEPE could rally toward $0.00001000 or higher.
But none of that matters until a real breakout happens.
So, Is It Time to Put $2,000 Into PEPE?
If you’re waiting for confirmation, this isn’t it yet. PEPE price is showing compression between rising support and falling resistance, which usually ends in a strong move, but there’s no clear direction yet.
A confirmed breakout above $0.00000830 could send it toward $0.00001000, $0.00001200, or even $0.00001400 in a strong move. But if PEPE gets rejected again, expect another visit to the $0.0000060 area, and possibly even $0.00000500 or $0.00000430.
For now, putting $2,000 into PEPE carries both breakout potential and downside risk. The setup looks interesting, but the breakout hasn’t happened yet.
Read Also: How High Can Render Price Go in the Mid-Term? Is $30 Possible?
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