Saad Ullah
PEPE, the popular meme cryptocurrency, stands at a technical crossroads as traders watch for signs of the next major price move. The token's recent consolidation within a symmetrical triangle has created anticipation in the market, with both bulls and bears positioning for what could be a decisive breakout in either direction.
PEPE Price Tests Key Symmetrical Triangle Support
The meme coin is currently testing the lower edge of its symmetrical triangle formation on daily charts. Price action has lost steam, with sellers gradually gaining control through a series of lower highs that's putting pressure on the pattern's support.
Trader noted that this triangle is tightening with declining volume, which often signals an impending breakout.
While the pattern technically allows movement in both directions, current market sentiment leans bearish as buyers haven't managed to push price back toward the triangle's upper boundary.
Bears Target $0.0000085 Zone on Support Break
A clean break below the $0.0000096 support level could trigger rapid selling toward the $0.0000085–$0.0000080 range, where the next significant demand zone sits. This area will be crucial for any potential bullish defense.
For PEPE to shift momentum, it needs to reclaim territory above the triangle's upper trendline convincingly. Without this move, the bearish setup remains intact and traders should prepare for potential downside. Current technical indicators suggest sellers have the upper hand in this consolidation phase, with the narrowing price action combined with weakening buying pressure creating an environment where bears could capitalize on any breakdown.
Bearish Bias Unless Bulls Step In
PEPE's next major move appears imminent as the triangle pattern nears its apex. While bulls could still mount a defense at the $0.0000096 support level, the current setup favors downside risk unless momentum shifts decisively.
The coming days will determine whether September starts with recovery or deeper correction. Traders are monitoring both the immediate support and potential resistance overhead, as the next move could define PEPE's short-term trajectory. Without a convincing reclaim of the triangle's upper boundary, the bearish bias remains the dominant theme.
Saad Ullah
