- PEPE remains in a downtrend, failing to reclaim key resistance at $0.00009 and printing new lower lows, signaling strong bearish control.
- Technical indicators confirm weakness, with RSI staying below neutral 50 and OBV remaining flat, indicating low buying pressure despite a brief weekend bounce.
- Liquidation data suggests consolidation, with $0.00007 acting as a key level, while a potential retest of $0.000073 could present a selling opportunity before further declines.
Pepe (PEPE) is struggling to hold its ground, once again retesting a key resistance level after slipping below the 78.6% retracement mark from its 2024 rally. The loss of February’s lows signals that bearish pressure remains strong, echoing a broader downturn in the memecoin sector.
PEPE to Revisit August 2024 Lows – Or Drop Even Further?
The daily chart paints a grim picture for bulls. PEPE dipped below February’s support before retesting it as resistance during Sunday’s brief pump. Since then, it’s resumed its downtrend, printing a new lower low and reinforcing bearish dominance.
Spot trading volume has remained notably low since late December, causing the OBV (On-Balance Volume) to stagnate. Unlike the May-to-August 2024 retracement—where OBV saw a sharp drop—this decline has been more controlled. Still, bulls are unlikely to find relief anytime soon.
While the OBV lacks a steady trend, the RSI (Relative Strength Index) has remained below neutral 50 for most of 2025, affirming PEPE’s bearish bias. A hidden bullish divergence emerged recently, but these signals are often weak. Given that PEPE already saw a brief bounce over the weekend, another immediate recovery seems unlikely.
Will PEPE Reverse or Sink Deeper?
The 4-hour chart shows that PEPE formed a range toward the end of February, briefly deviating above resistance at $0.00009 before plunging below the range lows. The OBV has stayed at local lows, suggesting that market conditions remain fragile.
A reclaim of the range seems unlikely but not impossible. However, the firm rejection at $0.00009 suggests that bears still hold control. The mid-range level aligns with PEPE’s February 3 low, making it a short-term price target where bullish efforts could stall. Meanwhile, the next major support sits at $0.0000585.
Liquidation Heatmap Hints at a Slowdown
Data from Coinglass reveals no significant liquidation levels below the current market price, suggesting that PEPE might consolidate around $0.00007 before deciding its next move. Across multiple timeframes, the $0.00009 zone remains a key magnet for short-term price action.
A 30% bounce seems unlikely, though $0.000073 could act as a short-term selling opportunity if PEPE retests it. Until then, sellers remain in the driver’s seat.
