PEPE price holds above $0.00001130 as bulls attempt breakout from descending trendline
Pepe price stabilizes near demand zone as compression signals possible volatility expansion
Pepe (PEPE) is trading near $0.00001130 as of June 16 after rebounding from the $0.00001100 demand zone, which absorbed considerable sell-side liquidity last week. The Smart Money Concepts chart reveals a series of bullish CHOCH patterns that coincided with a liquidity grab beneath recent lows, followed by internal accumulation.
Key highlights
- Pepe price rebounds from $0.00001100, but struggles below short-term bearish order block
- Volume profile shows POC at $0.00001113; sustained closes above this level may confirm support
- Indicators reflect low momentum and compression, signaling potential breakout setup
However, the asset is currently facing resistance just below a bearish order block, and price action remains directionless without confirmation of a breakout.
PEPE price dynamics (Source: TradingView)
From a structural lens, Pepe has reclaimed the mid-range of its June 10–13 decline and is now testing the lower boundary of a descending trendline drawn from $0.00001277. A decisive break above this trendline could lead to a rally toward the $0.00001233 liquidity cluster, and potentially the inefficiency zone near $0.00001362. Failure to hold above $0.00001113, however, risks a drop back toward $0.00001050 or even the low at $0.00000950.
Momentum weakens as traders await breakout trigger
Short-term indicators reflect a subdued momentum environment. The RSI on the 30-minute chart is hovering just under 50, while the MACD is on the verge of a bearish crossover. The DMI signals indecision, with converging DI lines and low ADX, and the CMF has dipped to -0.13, suggesting weakened capital inflows. Price is also trading near the 50 and 100 EMA levels on the 4-hour chart, with Keltner Channels tightening—a sign of imminent volatility expansion. The current wedge structure on the 1-hour chart may provide the directional catalyst once resolved.
The volume profile indicates that $0.00001113 is the Point of Control (POC), with strong buy-side interest consolidating above it. However, continued rejection here could open a rotation back toward low-volume zones below $0.00001050. The near-term outlook hinges on whether bulls can reclaim the $0.00001160 resistance. A breakout could validate further upside to $0.00001233, while failure would invalidate the current bullish setup.
In our earlier coverage of Pepe price action, we noted that the token had entered a compression phase beneath descending resistance, with narrowing Bollinger Bands and weakening RSI momentum. The current setup confirms that bias remains neutral-to-bullish, with a breakout scenario still in play but dependent on reclaiming higher levels with volume.
