- PEPE holds key 4H support at $0.00001450, signaling potential for another upward move.
- Bullish flag pattern and rising volume indicate ongoing strength in PEPE’s uptrend.
- Derivatives data shows increased open interest and funding rate, reflecting bullish trader sentiment.
PEPE is currently running with over 20% profit and is undergoing a critical retest on the 4-hour timeframe. The meme coin recently surged from $0.000010 to above $0.000015, sparking strong interest in the market. Traders are closely watching key support levels for signs of further upside.
Price Action and Technical Setup
According to an analysis prepared by Crypto Candy, PEPE’s recent breakout from the $0.00001020–$0.00001200 range was supported by rising volume. The token reached near the 50% Fibonacci retracement zone around $0.00001800, showing strong upside potential.
The price action formed a bullish flag pattern on the 4-hour chart, combining a 100% surge earlier this month with a consolidation phase. The daily chart reveals a pullback with a long upper wick, suggesting intraday selling pressure near $0.00001600.
Momentum indicators such as the RSI are approaching overbought territory at 68.7, while the MACD histogram shows signs of flattening. These signals indicate that the vertical push may be pausing, and bulls need to defend the $0.00001400–$0.00001450 support zone to sustain the rally.
Market Sentiment and Outlook
PEPE’s volume profile points to a high-probability demand zone around the 0.618 Fibonacci level and VWAP, making it a critical area for buyers. The token maintains a bullish structure with higher highs and higher lows, and the current pullback is seen as a healthy retest within this trend. As long as price holds above this support on the 4-hour chart, another leg up appears likely.
Derivative market activity supports this view, with PEPE’s open interest jumping nearly 20% to $697 million and short liquidations exceeding $3 million in 24 hours. The funding rate has climbed to 0.0227%, indicating bullish sentiment.
Lucky on X asked, “Will history repeat itself?” referring to PEPE’s potential to continue the rally after this retest. Market participants remain attentive to the outcome of this consolidation for signs of renewed momentum.
