After experiencing a significant upward trend, PEPE showed signs of weakness and entered a period of adjustment, triggering various speculations among traders about future trends.
As the token retreats from its recent peak, the market’s focus has now shifted to key support levels that could sway its ability to recover. Can these crucial levels hold and lead a rebound? Or will PEPE face a more prolonged downtrend?
PEPE has recently seen a bearish trend on the 4-hour chart, encountering stiff resistance at $0.00001152. This struggle to sustain the uptrend has triggered a decline that has pushed the asset towards the 100-day simple moving average (SMA). A break below this SMA could intensify selling pressure, while a rebound could signal a potential price reversal.

4-hour relative strength index (RSI) analysis suggests that bullish forces may be waning. Currently, the RSI has fallen from the overbought territory to around 68%, suggesting that buying pressure is waning. If the RSI continues to fall, it could indicate that the market is becoming more oversold, potentially paving the way for a deeper correction.
On the daily chart, PEPE is showing a clear negative trend, which is reflected in a bearish candlestick. This ongoing downward trend highlights the prevailing selling pressure in the market. Although the meme coin is currently trading above its 100-day moving average, which is generally seen as a bullish indicator, the strength of the bearish candlestick suggests that the upward momentum may be limited.

Finally, on the daily chart, the RSI indicator line is approaching the critical 50% level after crossing it. The 50% threshold represents a neutral zone, showing a balance between buying and selling forces.
Once it falls below 50%, it may indicate that market sentiment is turning to pessimism; on the contrary, if it can maintain above 50% or climb above this level again, it may mean that the upward momentum is still strong, thereby pushing prices to continue to rise.
For PEPE, the key to finding stability and reversing the current downward trend lies in its key support price. One of the important support levels that deserves close attention is $0.000000766, which has played a key support role many times in history.
If the PEPE price approaches this level, it may stimulate new buying interest, which may trigger a price rebound$PEPE