PEPE Coin Price Analysis: Preparing to Bounce Back Above $0.000010 and Recover to $0.000013?

As the altcoin market recovers overnight, meme coins are gradually gaining momentum. The frog-themed meme coin, PEPE, has risen by 1.67% over the past 24 hours.

Meme coins are slowly gaining momentum as the altcoin market recovers overnight. PEPE, the frog-themed meme coin, has risen by 1.67% over the past 24 hours.

While it is still trading below the psychological level of $0.000010, the short-term recovery suggests a potential comeback for PEPE.

PEPE’s price action on the daily chart reveals a critical reversal, highlighting strong bearish pressure. After breaking down from a falling wedge pattern, PEPE's price has formed a triangle pattern, which, when combined with the wedge breakdown, creates a bearish pennant on the daily chart.

Currently, PEPE has shown a slight intraday recovery of 1.46%, trading at $0.0000094816 with an intraday gain of 1.46%.

This recovery suggests the formation of a potential morning star pattern, which could test the overhead trendline at the psychological level of $0.000010.

However, the increasing bearish pressure has triggered several sell signals, including a bearish crossover between the 50-day and 200-day EMA lines, forming a death cross, which is usually seen as a signal for continued bearish momentum.

Moreover, the pennant formation on the daily chart is a continuation pattern, increasing the likelihood of a breakdown. PEPE has faced a 52% decline since the beginning of 2025.

In a recent X post, Ali Martinez discussed the significance of the $0.0000092 support level. He observed a rising channel pattern on the daily chart and predicted a sharp decline to $0.0000031 if PEPE closes below $0.0000092.

This critical support aligns with the 67.80% Fibonacci level on his chart. However, the bearish target might be too aggressive, considering two key support levels at $0.00000706 and $0.00000492.

PEPE Price Targets

According to Fibonacci levels, a potential recovery to test the local resistance trendline could trigger a breakout rally. If such a scenario occurs, PEPE might test the 50-day EMA line around the 50% Fibonacci level at $0.0000132674.

On the other hand, a bearish breakdown could lead PEPE to test the support level at $0.0000066378.

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