PEPE has been trending downward, marked by consistent lower highs and lower lows. The chart reflects sustained selling pressure, keeping momentum bearish. Currently, PEPE is trading around $0.000008898, and has weakened by 8.28% for the past 24 hours. Source: Coinmarketcap Recent data shared by on-chain analyst Ali Martinez highlights that PEPE’s daily chart has just triggered two TD Sequential buy signals. On September 22, a green “A13” appeared, often interpreted as a sign that a downward trend is reaching exhaustion. This was followed by a red “9” candle on September 24, another indication that selling pressure could be losing momentum and that a potential rebound may be on the horizon. These developments come after PEPE suffered a steep 17% decline over the past week, with the token dropping to local lows before staging a slight recovery to around $0.00000969. The dual appearance of these signals suggests that bearish momentum might be cooling, offering traders a possible entry point as the market attempts to stabilize. PEPE Consolidates in Symmetrical Triangle, Eyes Breakout Analyst Butterfly has highlighted that PEPE is consolidating within a symmetrical triangle pattern on the daily chart. The token is currently trading near the lower boundary of this formation, a level that has acted as reliable support multiple times throughout the year. This consolidation phase suggests that market participants are waiting for a decisive move, with many investors interpreting the repeated support tests as an accumulation zone. Source: X Butterfly emphasized that “smart money is loading up,” pointing to growing anticipation of a bullish reversal. If buyers manage to push PEPE above the triangle’s upper resistance line, momentum could accelerate and pave the way for a retest of previous swing highs. Until a confirmed breakout occurs, however, PEPE remains in a consolidation stage, leaving traders to closely monitor whether bulls can reclaim control. PEPE Tests Key Support Amid Bearish Pressure From the 1-day price chart, PEPE is showing a bearish trend as the price continues to decline from recent highs. The token is currently trading around $0.000000948, with visible support near $0.000000918 and resistance around $0.000000967. A sustained move below support could open the way for further downside, while a bounce could retest resistance levels in the short term. PEPE 1-day chart, Source: TradingView Looking at indicators, the MACD shows bearish momentum as the MACD line has crossed below the signal line, accompanied by red histogram bars, confirming selling pressure. The RSI is at 38.53, close to the oversold region, suggesting weakened buying strength but also the possibility of a rebound if selling pressure eases.
