- PEPE is developing a double bottom on the weekly chart, signaling a potential trend reversal if confirmed.
- A pullback to the 0.618 Fibonacci level ($0.00001041) may offer a key entry point for technical traders eyeing further upside.
- Short-term resistance at $0.00001533 and key targets at $0.00001872 and $0.00002745 could shape PEPE’s next breakout.
PEPE is consolidating below a short-term resistance. The memecoin is currently trading at $0.00001413 and is slightly beneath its resistance level of $0.00001419, while its support is at $0.00001354. Although the asset fell by only 0.4% in a day, its weekly trend is promising, as technicals could drive prices higher if the market supports it.
Double Bottom Formation Points to Reversal Potential
The weekly chart of PEPE seems to be forming a double bottom, a well-known reversal pattern. This arrangement, which often marks a trend shift from bearish to bullish, has emerged between late 2024 and mid-2025. The asset obtained stable buying below $0.00000655 twice, meaning it consistently formed a bottom there. Recent price movements above this level show that the bulls are getting stronger.
A key area of interest lies within the Fibonacci retracement zone, particularly the 0.618 level around $0.00001041. A potential pullback to this region would likely attract attention from technical traders watching for a high-probability long entry. Should PEPE retest and hold this level, the chart suggests room for further upside.
Price Targets and Resistance Levels
The chart identifies two clear upside targets if the current bullish structure holds. The first target stands at $0.00001872, aligned with historical resistance. Beyond that, the second projected level is $0.00002745, which would represent a significant extension should the pattern fully play out. However, these targets depend on volume expansion and broader market stability.
Within the next few periods, traders might focus on how price reacts to the mid-range resistance near $0.00001533. Should this happen, a modest decline could occur before new upward price moves start.
Outlook Hinges on Pullback and Confirmation
While structural signals are leaning positive, confirmation remains key. A clean retest of the golden zone followed by steady accumulation could strengthen the bullish argument. Until then, price movement within this range will likely remain cautious, with volatility expected around key support and resistance levels.
