PEPE Consolidates After Descending Triangle Breakout — Still Not Bullish

Key Takeaways

• The descending triangle resolved into ABCDE correction.
• The expanding channel mirrors the August 2024 structure.
• The interaction result is awaited, but another drop looks likely.
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PEPE continues to offer notable volatility as it consolidates after making a significant breakout above the descending triangle.

The following analysis uses a multi-timeframe approach to draw the broader market context and the 1-hour chart for short-term wave structure and predictive projections.

A mix of Elliott Wave theory, RSI momentum, and Fibonacci levels will help assess where price action could be headed next.

PEPE Price Analysis

The 4-hour chart of PEPE reveals a clear descending triangle formation from Dec. 10, with a breakdown occurring after reaching a low of around 0.0000054 on March 11.

This technical structure followed a series of lower highs, indicative of weakening bullish attempts and growing selling pressure.

After multiple tests of the base, the final breakdown confirms the end bearish structure, with the price rising to a high of $0.0000092 on March 29.

A downturn followed since its recent high to the ascending trendline around $0.0000068. Although this is a higher low, the structure made a three-wave advancement that isn’t bullish.

The Elliott Wave count suggests that PEPE completed a five-wave corrective decline, part of a broader corrective phase following the previous uptrend to a high of $0.000028.

The breakdown aligns with the final leg, concluding a higher-degree ABCDE correction. This multi-month descending triangle brought the price back to its significant support zone from which the previous uptrend had started.

In this timeframe, the Relative Strength Index (RSI) dipped below 30, hinting at oversold conditions.

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While a bearish structure dominates, this signals the potential for an incoming countertrend rally or wave reversal. If this marks the end of a larger correction, an impulsive recovery could soon follow.

PEPE Price Prediction

Zooming into the 1-hour chart, PEPE appears to have completed a clean three-wave advancement to the upside on March 28, as we can label an ABC pattern.

This is especially evident as the price made a sharp downturn fall inside the first rise’s territory, effectively invalidating the possibility of an impulsive count.

We saw the formation of the expanding channel similar to what we saw in August 2024, when PEPE also reverted to the green demand zone. This fractal points to the price context.

The price is currently testing the ascending structure’s support at $0.0000070 and is showing signs of a potential bounce. However, we can primarily expect another descending move.

The RSI on the hourly chart is slightly below the mid-point, leaving room for both a downtrend and an uptrend. This is why we need to wait and see the result of the interaction.

But if history repeats itself again and the final descending move is next, the market will likely revisit its last low area before we can see the start of a new bull phase.

Key Levels to Watch

• Immediate Resistance: $0.0000092 (March 29 local high).
• Secondary Resistance: $0.0000078 (top of wave B, expanding channel).
• Immediate Support: $0.0000070 (ascending trendline support).
• Critical Support: $0.0000054 (March 11 low, triangle base).
• Reversal Zone: $0.0000054–$0.0000060 (prior demand zone).
• Invalidation Level: Below $0.0000054 confirms extended correction.