PEPE Bounces Back With 15% Recovery — Faces Rejection at Trendline

Key Takeaways

• Correction is similar to the prior structure, likely a fractal.
• Double bottom forms at major demand zone.
• A fice-wave move is needed to confirm a new uptrend.
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The charts of PEPE across the 4-hour and 1-hour time frames reflect an extended corrective phase following its macro impulsive peak in December.

While the recent double bottom suggests a demand resurgence, the price action remains bound within descending structures.

A potential bullish breakout is developing but has yet to be confirmed.

PEPE Price Analysis

The 4-hour chart shows PEPE concluded its primary five-wave impulse at $0.000028 on Dec. 9, after which it transitioned into a prolonged downtrend.

The corrective structure that followed formed a complex W–X–Y–X–Z formation, unfolding inside a descending triangle.

Notably, this triangle breakdown reached a low of $0.0000052 on March 11, marking the potential bottom.

Following that low, a short-lived breakout occurred, mimicking a prior fractal highlighted by a purple box on the chart.

Like the previous instance, this breakout formed another corrective structure, suggesting no trend reversal had occurred.

Subsequently, price action returned to the demand zone, establishing a double bottom of wave Z on April 7, reinforcing this level as a significant structural support.

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The Relative Strength Index (RSI) on the 4-hour chart reflects convergence, hinting at fading bearish momentum. 

This double bottom, aligned with the RSI stabilization and fractal repetition, provides the foundation for a potential bullish reversal. 

However, the macro corrective bias remains in place without a confirmed impulsive move or breakout.

PEPE Price Prediction

On the 1-hour chart, PEPE has carved out a descending channel from its high of $0.0000092 on March 26. 

Despite the continued downward slope, recent activity from the April 7 low of $0.0000057 shows early signs of a potential bottoming structure.

A subtle rally has taken shape, with the price attempting to break above the channel’s upper boundary. 

Importantly, if this movement evolves into a clear five-wave impulsive structure from the $0.0000057 low, it would signal that the larger corrective Z wave has likely been completed. 

In that case, the recent bounce could mark the initiation of a new bullish phase, mainly if the price confirms a breakout with volume and makes a higher high above $0.0000065 (channel’s upper boundary).

However, the most recent rejection at the descending resistance casts doubt on immediate bullish continuation.

If the price fails to make a higher high and reverses below $0.0000057, the bullish outlook would be invalidated, and PEPE may revisit or even breach the prior March 11 low.

Therefore, confirmation of a new uptrend hinges on two criteria: a breakout above descending resistance and a verified five-wave pattern.

Without these, the move remains corrective and vulnerable to a continuation.

Key Levels to Watch

• Major Support: $0.0000052 (March 11 low), $0.0000057 (April 7 double bottom).
• Immediate Resistance: $0.0000065 (local pivot).
• Breakout Confirmation: Above the descending channel, there is the formation of a 5-wave structure.
• Invalidation Level: Below $0.0000057 – reopens downside risk.
• Fractal Watch Zone: Purple box region post-breakout.