PEPE Breaks Descending Channel as Market Awaits Retest Confirmation
PEPE is showing a notable technical shift after breaking above the resistance of a descending channel on the 8-hour timeframe. This move comes after a prolonged downtrend, suggesting that bearish momentum may be weakening and a trend transition could be underway.
Price is currently in the process of a retest of the former channel resistance. A successful hold above this level would confirm the breakout and strengthen the bullish case, potentially attracting renewed buying interest and follow-through momentum.
If the retest is confirmed and volume supports the move, PEPE could begin an upside expansion toward the following targets:
$0.00000540 – First reaction and short-term resistance
$0.00000640 – Previous supply zone
$0.00000750 – Mid-range breakout target
$0.00000900 – Major resistance and trend continuation level
$0.00001010 – Extended bullish objective
Sustained price acceptance above the broken channel will be the key factor to monitor. Failure to hold this level could result in further consolidation, while a clean retest and bounce would likely confirm the start of a broader recovery phase.
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