PEPE rises 13.26% as spot ETF application by Canary Capital boosts anticipation: weekly analysis

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Pepe rises 13.26% this week

Highlights

PEPE remains under medium- and long-term selling pressure, trading below key moving averages with bearish momentum signals prevailing.
Momentum indicators, including MACD and RSI, reflect ongoing seller dominance despite a 13.26% weekly price increase.
PEPE is expected to consolidate between $0.00000345 and $0.00000434 over the next week, with downside risk outweighing upside potential.

ETF filing and whale accumulation fuel institutional interest this week

Canary Capital filed an S-1 registration statement with the SEC on April 8 for a proposed spot PEPE ETF, marking the first regulatory attempt to list the meme coin in a US exchange-traded fund. This action highlights growing institutional interest in the token and the potential for broader investor participation if regulatory approval is granted. Whale wallet accumulation has also been reported in anticipation of possible ETF-driven demand.

Bearish momentum persists as prices stall below technical barriers

On the weekly chart, PEPE continues to trade below the key MA-20 and MA-50 levels, signaling ongoing bearish momentum. Price action nears resistance at the top of its weekly range, while oscillators show mixed signals: the MACD gives a strong sell, ADX is neutral, and the RSI, CCI, and Bull/Bear Power remain in bearish territory. Weekly volatility is elevated at 11.92%.

Sideways consolidation favored amid weak momentum and breakout risk

For the next 7 days, PEPE is expected to move within a range of $0.00000345 to $0.00000434 based on current weekly volatility and price action. Given that all four key momentum indicators remain bearish or neutral, the probability of a sustained move higher is below 20%. Baseline expectation is sideways consolidation near current levels, with a potential bullish scenario marked by a breakout above the $0.00000420 resistance. If price falls below $0.00000345, a test of recent lows becomes likely.

Anton Kharitonov, expert at Traders Union, notes that PEPE posted a 13.26% weekly gain but remains technically weak below both its MA-20 and MA-50 levels. He highlights that despite positive ETF-related developments and reported whale accumulation, the token faces persistent seller pressure with key momentum indicators stuck in bearish or neutral zones. Kharitonov cautions that the current technical setup does not support a strong move higher. He sees weekly volatility staying elevated and expects consolidation within a narrow range. The analyst believes only a sustained break above $0.00000420 could shift sentiment. "Until bullish momentum returns and resistance at $0.00000420 gives way, I remain defensively positioned for the coming week."

Earlier, analysts noted that PEPE’s technical setup suggested strong but potentially overextended bullish momentum, with expectations for near-term sideways consolidation. The current outlook adds the significant development of an impending ETF application, underscoring the importance of monitoring resistance at $0.00000420 as a trigger for renewed institutional-driven upside.

Source of Data: PEPE Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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