- PEPE is showing early signs of a bullish breakout after rebounding from key support near $0.00000760.
- A close above $0.00000888 could trigger a rally toward $0.00000952 and $0.00001080 in May.
After weeks of sideways drift and selling pressure, PEPE (PEPE) is showing the first signs of a technical revival. Trading at approximately $0.00000817, the meme coin has bounced convincingly off a well-established demand zone between $0.00000760 and $0.00000790. This recovery marks a notable shift in momentum, as bulls attempt to reclaim dominance heading into mid-May.
On the 4-hour chart, PEPE has broken its recent streak of lower highs, targeting a crucial descending trendline near $0.00000835. A decisive push beyond this area, and especially above the horizontal resistance at $0.00000888, could pave the way for a broader breakout. If successful, bullish targets of $0.00000952 and even $0.00001080 may become realistic again—levels not seen since April’s surge.
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Technical indicators are beginning to confirm the turnaround. The Stoch RSI has flashed a bullish crossover from oversold levels, historically a precursor to short-term rallies. Meanwhile, the MACD is flattening out, hinting that bearish momentum is waning. The RSI climbing above 50 also reinforces the case for renewed bullish interest.
On the daily timeframe, PEPE is testing the midline of the Bollinger Bands at $0.00000840 and is approaching critical Ichimoku levels near $0.00000831. A daily close above these thresholds would significantly strengthen the bullish case.
However, headwinds remain. A dense cluster of exponential moving averages (EMAs) between $0.00000814 and $0.00000918 forms a compression zone. PEPE must decisively break above this range to confirm a sustained upward move. The 200-day EMA at $0.00001041 is the final barrier to flipping the long-term trend bullish.
If PEPE can breach the $0.00000888 resistance, May could usher in a new bullish wave targeting April highs. But until that breakout confirms, price action may stay trapped in a tightening range. Traders should watch for volume spikes and closes above key levels to validate the next directional move.
