Traders eye major support levels as PEPE enters consolidation phase
PEPE price slipped nearly 7% over the last 24 hours, pushing the popular memecoin toward a key demand zone that has historically acted as strong support. At press time, PEPE was trading around $0.000000970 against USDT, marking its lowest point in weeks.
PEPE Tests Crucial Support
The daily chart shows PEPE revisiting the green support band between $0.00000090 and $0.00000100, an area where buyers previously stepped in during May and July. A clear bounce was observed in those periods, sparking short-term rallies that carried prices toward the mid-$0.00000130–$0.00000150 resistance zone.
If this level fails to hold, analysts warn that PEPE could retest the $0.00000077–$0.00000080 range, which would represent a deeper correction.
“Support zones this wide tend to attract speculative buyers, but the failure to break above resistance in recent weeks shows weakening momentum,” According to BITX market strategists.
On the upside, PEPE faces heavy selling pressure around the $0.00000130 and $0.00000150 resistance bands, highlighted on the chart in red. These areas have repeatedly capped upward moves since August. Without a strong breakout, traders expect sideways action between these levels and the current support zone.
“For a sustained reversal, PEPE would need to reclaim $0.00000130 with strong volume confirmation. Until then, rallies may continue to face profit-taking,” BITX technical analyst explained.
With daily volumes remaining elevated at over 13 trillion PEPE tokens, short-term traders are closely monitoring the price reaction near current support. A decisive breakdown could trigger further losses, while a sharp rebound may invite fresh speculation in the coming weeks.
For now, PEPE’s trend remains neutral-to-bearish, with traders emphasizing caution until the memecoin either establishes a firm floor or reclaims its key resistance levels.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.