PEPE Remains Under Pressure Near Key Resistance as Downtrend Extends
PEPE continues to face sustained selling pressure, slipping more than 1% on Thursday and extending the previous session’s 4% decline. The latest move brings the meme coin’s weekly losses close to 5%, marking its sixth consecutive week of weakness and reinforcing the broader bearish structure.
On the 4-hour timeframe, PEPE recently rejected from a descending trendline resistance and is now drifting lower, with price action pointing toward a potential retest of the February 6 low near $0.00000310. The market structure continues to print lower highs and lower lows, reflecting persistent downside momentum.
Technical indicators support the cautious outlook. The Relative Strength Index (RSI) has fallen to around 39, moving further below the neutral 50 level and indicating strengthening bearish pressure without yet entering deeply oversold territory. Meanwhile, the MACD line remains below the signal line, and expanding negative histogram bars suggest that downward momentum is accelerating rather than stabilizing.
A decisive break below $0.00000310 could expose additional downside risk in the short term. Conversely, a bullish recovery scenario would require PEPE to reclaim and close above the $0.00000370 resistance zone, which aligns with the descending trendline. Such a move could open the path toward the 50-period EMA near $0.00000390, followed by stronger resistance at the 200-period EMA around $0.00000458.
For now, price action remains technically fragile, with momentum indicators favoring sellers unless a confirmed breakout shifts sentiment.
This article is for informational purposes only and does not constitute investment advice. Traders and investors should conduct their own research and apply appropriate risk management.
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