- PEPE forms a bullish pennant on the 4H chart with growing momentum, hinting at a potential 50% to 100% breakout rally ahead.
- The weekly chart confirms long-term strength as PEPE holds above a key support zone and continues to print higher lows into May 2025.
- Recent price action and steady volume suggest quiet accumulation as traders eye a breakout above the $0.00001600 resistance level.
PEPE is flashing a bullish continuation signal as a pennant pattern forms on its 4-hour timeframe. The meme coin trades at $0.00001317, showing renewed momentum. After consolidating for over two weeks, PEPE appears ready to test the upper trendline. The pattern formed between the $0.00001190 and $0.00001600 levels. The triangle follows a sharp surge on May 8, when PEPE spiked from $0.00000940 to $0.00001290. That explosive move built the foundation for the current bullish setup.
Source: Clifton Fx
Besides, recent green candles indicate growing buying interest as price pushes toward the triangle’s resistance. The setup shows tightening price action, with higher lows and lower highs converging. Additionally, volume remains moderate, suggesting a quiet accumulation phase. If bulls can push price above the $0.00001600 barrier, a breakout could trigger a swift 50% to 100% rally. A green target zone between $0.00001800 and $0.00001900 suggests the expected upside zone. Traders are now watching for a breakout confirmation in the coming sessions.
Macro Structure Shows Strength on Weekly Chart
Meanwhile, the weekly chart paints a more extensive bullish story. PEPE trades at $0.00001365 after a slight 1.32% pullback. However, the macro trend remains intact. Since early 2023, PEPE has respected a strong ascending trendline. This gold-colored line links all major bottoms, acting as long-term support. Price recently bounced off this trendline, showing resilience and strength.
Source: Professor Moriarty
Moreover, PEPE now sits above a former resistance zone turned support. This level acted as a barrier during late 2023. In 2024, it flipped into support and has since been defended. If bulls hold this zone, the next upside target lies at $0.00002192. This move could challenge PEPE’s previous all-time high of $0.00003000.
Rising Momentum and Higher Lows Fuel Confidence
Besides price structure, the token’s volume supports bullish continuation. Spikes in volume coincide with breakout rallies. These moments confirm buyer presence during upward movements. Moreover, the formation of higher lows since January 2025 suggests bullish conviction is growing.
Consequently, both short-term and long-term timeframes signal strength. PEPE’s consolidation may be nearing its end. Hence, if price breaks above the pennant, a strong rally could follow. Investors now await key price action around resistance as the next trend-defining moment unfolds.
