PEPE Nears Critical Support at $0.00002009, Can Bulls Stage a Rally?

• PEPE eyes $0.00002009 support as buyers target a rebound; the next resistance is at $0.00002774 and T1 at $0.00004251.
• The market structure remains bullish; failure to hold $0.00002009 may push the price toward $0.00001619. Stop-loss advised below $0.00001500.
• Fibonacci retracement confirms strong support zones; buyers defend dips while monitoring upward breakout opportunities.

The PEPE daily is nearing an imminent correction toward the critical support zone at $0.00002009. This level offers a favorable buying opportunity for traders. At press time, PEPE was trading at $0.00002366, a 1.41% increase in the past 24 hours. 

Support Levels and Buying Opportunities

The $0.00002009 zone emerges as the immediate key support level. If buyers defend this price effectively, the upward trend could resume. Furthermore, Fibonacci retracement levels add strength to this zone, with the 0.618 level aligning near $0.00001961. The market anticipates a rebound from this area, targeting a new rally phase.

Below the current support, the next key downside zone lies at $0.00001619, corresponding to the 0.786 Fibonacci level. This zone is a stop-loss level for risk management. Analysts suggest maintaining a stop-loss below $0.00001500 to minimize potential downside risk.

Key Targets and Market Structure

The chart highlights an initial upward target of $0.00002774, representing the previous high. A breakout above this resistance would confirm bullish momentum and signal continued strength. Beyond this, the next target, labeled T1, is set at $0.00004251. This level stands as a major resistance point where sellers may emerge.

The market structure remains bullish despite short-term corrections. PEPE experienced a strong uptrend in early November, with buyers defending lower levels during pullbacks. Price consolidation between $0.00002259 and $0.00002366 reflects indecision but maintains overall upward potential.

Technical Outlook and Strategy

The candlestick formations confirm that buyers are actively supporting PEPE around current ranges. Additionally, momentum indicators signal steady market strength. Traders should monitor the $0.00002009 level closely, as failure to hold this support may lead to further declines.

Consequently, if the price rebounds successfully, a move toward $0.00002774 and $0.00004251 could unfold. Besides, risk management remains essential, with stop-loss placement below $0.00001500.