PEPE price falls by 2.8% as support retest signals downside risk
PEPE hovers above critical support zone as descending triangle structure tightens
Pepe (PEPE) opened the new quarter under renewed pressure, trading around $0.000000948 on July 1, down nearly 2.8% intraday. The memecoin is approaching a major structural support zone after facing a sharp rejection from its mid-June highs.
Highlights
- PEPE trades at $0.000000948 after a 2.8% drop as bulls struggle to defend key support
- Price sits below all major EMAs; MACD and DMI show bearish strength building
- Break below $0.00000094 could open path toward $0.00000090 and $0.00000087
With bearish momentum building and short-term indicators deteriorating, PEPE enters July in a fragile technical state.
Triangle structure narrows near critical support
The daily chart continues to reflect a macro downtrend, with price repeatedly failing to break above the $0.00000110–$0.00000120 resistance band. A descending triangle structure has now formed, anchored by a horizontal support level near $0.000000944. Repeated rejections from lower highs and sustained trade below the 100-EMA reinforce the prevailing bearish structure.
PEPE price dynamics (Source: TradingView)
On the 4-hour timeframe, PEPE has lost its grip above the 50- and 100-EMAs, with price hugging the lower Bollinger Band. All four EMAs—20, 50, 100, and 200—are stacked bearishly. If $0.00000094 fails to hold, the next major support zone sits near $0.00000090, the base of the June consolidation range.
Indicators confirm bearish bias with rising downside momentum
The 30-minute RSI has slipped to 34.58, placing it in oversold territory, though not yet at reversal levels. MACD has turned negative with widening red histograms, signaling growing downside pressure. Meanwhile, the Directional Movement Index (DMI) shows a rising ADX alongside dominant -DI, confirming bearish control of the short-term trend. The VWAP indicator sits firmly above the price, capping any bounce attempts amid low liquidity conditions.
Unless bulls can reclaim the $0.00000100 level with volume and break above descending resistance, the outlook for July remains weak. Traders should watch for a potential breakdown below $0.000000944, which could accelerate losses toward $0.00000090 or lower.
In earlier analysis, PEPE was noted to be in a vulnerable state beneath dynamic EMA resistance and a descending trendline. That setup remains intact, and price is now approaching the same support zone. With compression building inside the triangle pattern, the next move is likely to set the tone for early July.
