Summary PEPE price shows signs of basing near $0.00008800 after extended downside pressure. Indicators signal short-term bullish divergence, but trendline resistance remains intact. A break above $0.00009100 could open a recovery to $0.00001000; failure risks drop to $0.00008200. By Jainam Mehta The PEPE ( PEPE-USD ) price is trading near $0.00008800 on June 23, showing signs of short-term stabilization after a deep correction that pushed PEPE toward a long-term accumulation zone. Despite the relief, broader technicals still lean bearish. On the 30-minute chart, PEPE is forming a rising wedge structure below descending resistance at $0.00008950, suggesting a fragile recovery effort without a confirmed breakout. PEPE price dynamics (Source: TradingView) PEPE price dynamics (Source: TradingView) Shorter timeframe momentum indicators are offering mild optimism. The RSI has climbed above 53 while flashing a bullish divergence from recent lows. Similarly, the MACD histogram is flattening, and a crossover appears imminent. However, bulls must reclaim the $0.00009100–$0.00009600 zone to confirm a reversal, particularly as the token remains capped below a dynamic EMA cluster on the 4-hour chart. Macro trend still under pressure On the higher timeframes, PEPE continues to trade inside a broader descending channel that has been active since early June. Several rally attempts have failed at or below $0.00001000, while the price remains pinned beneath all major EMAs. The daily chart also reflects a critical retest of the $0.00008800–$0.00008200 demand block, which previously fueled early 2024's breakout. Directional indicators point to sustained bearish control. The DMI shows the -DI above 57, with ADX strength holding near 37. Meanwhile, the supertrend on the 4-hour timeframe continues to print bearish. Price would need to decisively break above the macro trendline near $0.00001050 to shift the broader narrative. Until then, bears may remain in control unless volume and price coordination favor buyers. In our prior analysis of PEPE, we highlighted the importance of the $0.00008800 support as a potential accumulation base and warned of the strong resistance cluster near $0.00001000 . That range remains key to any bullish scenario, with failure to break above risking further downside toward $0.00008200 or lower. This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer . While we adhere to strict Editorial Integrity , this post may contain references to products from our partners. Original Post
