- PEPE rebounds from critical support and flips mid-range resistance into support, signaling a potential bullish reversal.
- Price forms higher lows and holds above the $0.000012271 level, with strong wicks showing aggressive buying pressure at lower levels.
- Scient eyes bids near range lows as PEPE trades in the upper half of its range, targeting the $0.000016000 resistance with bullish momentum.
$PEPE has shown a clear rebound from critical support, aligning with insights recently shared by analyst Scient. The meme coin trades at $0.000012584, posting a 1.88% gain on the day. Importantly, price bounced strongly from the demand zone between $0.000010723 and $0.000011400. This support level held after a deep pullback, confirming a firm bullish base.
Consequently, buyers reclaimed the mid-range support at $0.000012271. This horizontal level previously acted as resistance, rejecting price attempts multiple times. Its flip into support signals a potential reversal in trend. The rounded bottom pattern forming here further supports this bullish thesis.
Consolidation Break Signals Momentum Shift
The PEPE/USDT 12-hour timeframe on OKX shows a price structure shifting away from recent weakness. Price action now forms higher lows, marking a departure from the earlier downtrend. Moreover, strong candle wicks around $0.000012000 highlight aggressive rejections from lower levels.
Source: Scient
Additionally, the chart features a shaded support area that reflects possible institutional accumulation. This reinforces the current price rebound as demand-driven. Hence, traders anticipate continued upside as long as the $0.000012271 level holds.
Scient has hinted at placing bids near the RLs (range lows), which aligns with the projected continuation. The chart projection outlines consolidation above the mid-range level, targeting the $0.000016000 resistance.
Broader Structure Supports Continued Bullishness
The broader structure remains range-bound between $0.000010723 and $0.000016000. However, price now trades in the upper half of this range. This position shows growing bullish momentum and could favor a move toward the resistance zone.
The previous low between $0.000009152 and $0.000008507 remains untouched. Buyers stepped in early, signaling strength. No recent candles show lower lows, maintaining the bullish structure.
On the PEPE/WETH pair, the chart reveals sharp volatility between 2024 and 2025. Price broke out mid-2024, forming strong upward legs and cup-and-handle patterns. These indicate recurring accumulation followed by rallies. Moreover, price trades above the key ascending trendline, preserving its bullish momentum. Current action stays above major moving averages, confirming trend support.
