The PEPE price experienced a sharp decline early on, dropping below the $0.00000066 level before quickly recovering. After hitting the day’s low, the token rebounded strongly, climbing back near $0.00000069. This recovery indicates renewed buying pressure, showing resilience after a brief period of intense selling.
At the time of writing, PEPE was trading at $0.000006866, representing a 1.07% increase in the last 24 hours.
Source: CoinMarketCap
According to analyst Ali Martinez, PEPE appears to be forming a classic Head and Shoulders pattern on its 2-day chart, a structure often seen as a sign of an upcoming trend reversal. This pattern consists of three peaks: the left shoulder, the head, and the right shoulder, which together suggest weakening bullish momentum. The “neckline” of this formation, sitting roughly between $0.00000055 and $0.00000060, serves as a critical support level for the price.
If PEPE breaks below this neckline, the pattern would be confirmed, signaling a potential bearish breakdown. Martinez’s chart further supports this outlook with Fibonacci extension levels that outline possible targets once the neckline gives way. The projected move could take PEPE down toward $0.00000185, representing a significant decline from its current levels.
Source: X
As long as the price remains above the neckline, there’s still a chance for recovery or consolidation. However, a decisive close below it could trigger strong selling pressure and accelerate the downtrend into late 2025.
PEPE Poised for Another Breakout if Key Support Holds
Analyst Galaxy highlights that PEPE is currently retesting a crucial long-term support level that has played a key role in previous bullish reversals. The chart draws a strong parallel between the price structure in late 2023 and the current setup in 2025, both marked by consolidation within a green accumulation zone around $0.00000065–$0.00000070.
In the earlier cycle, this same range acted as a springboard, where heavy accumulation took place before the market exploded upward in early 2024. This pattern suggests that the current pullback could once again be a period of quiet accumulation rather than a sign of weakness.
Source: X
If PEPE can maintain this zone and avoid a breakdown below it, the setup remains bullish from a structural perspective. The price action hints that patient investors might be positioning themselves for a potential rally similar to the one that followed the previous consolidation phase. Holding above this support could trigger renewed confidence among traders, paving the way for another strong upward move as the market heads into 2026.
