Usman Salis
PEPE is gaining traction in today's trading session, displaying resilience after successfully defending crucial support levels. The meme coin's price action suggests growing buyer interest as it approaches a significant psychological milestone, making it an interesting watch for both swing traders and momentum players.
Current Market Position
PEPE trades at 0.00000985 with a 24-hour range between 0.00000966 (low) and 0.00000995 (high). Trader @amina_chattha observed, the current structure suggests growing momentum that could favor another test of key resistance levels.
Trading volume remains robust with 4.62 trillion PEPE tokens changing hands, equivalent to 45.33 million USDT. This healthy liquidity profile keeps price movements relatively smooth while supporting the current upward grind.
Technical Setup Shows Promise
The hourly chart reveals PEPE building a pattern of higher lows from the 0.00000966 foundation. Repeated attempts to break above 0.00000990-0.00000995 show persistent buying pressure, though sellers continue defending the approach to 0.00001000. Recent pullbacks have been shallow and quickly absorbed by dip buyers, indicating underlying strength that could support further upward movement.
Critical levels include immediate resistance at 0.00000995-0.00001000, which represents the key barrier with the round number likely attracting significant attention. Support zone at 0.00000980 serves as the nearest cushion based on recent price clustering, while major support at 0.00000966 remains the line in the sand - a break below would shift the narrative and target 0.00000953.
Price Scenarios
Several factors are contributing to PEPE's current strength. Risk appetite appears to be rotating into meme coins as major cryptocurrencies consolidate, creating opportunities for high-beta assets like PEPE. The consistent trading volume on major exchanges supports tighter spreads and cleaner trend development. Additionally, the psychological significance of reaching 0.00001000 tends to attract momentum traders and generate increased attention.
The most likely scenario involves a bullish breakout above 0.00001000, which could quickly extend to 0.00001020-0.00001030, with potential stretch targets near 0.00001050 if volume expands meaningfully. Alternatively, continued rejection below 0.00000995 would maintain the current range between 0.00000966-0.00000995, building energy for a future directional move. The bearish alternative requires a decisive break below 0.00000966, which would return control to sellers and target 0.00000953 while undermining the constructive setup. PEPE's technical picture remains encouraging with strong support holding and repeated tests of key resistance suggesting an imminent breakout attempt.
Usman Salis
