PEPE price bounces by 3% as short-term rebound challenges downtrend
PEPE climbs above Fib level as short-term bounce challenges descending structure
PEPE price is trading near 0.000000955 on July 2, rising over 3% intraday as bulls attempt a short-term recovery from June’s sustained drawdown. The move follows a bounce from the 0.00000091 region and comes as price challenges the 0.236 Fibonacci retracement level at 0.000000956.
Highlights
- PEPE price trades at 0.000000955 after rebounding off 0.00000091 support
- Short-term breakout targets 0.00000103 and 0.00000115 if resistance clears
- Trend remains bearish unless price breaks above daily downtrend line
While momentum has improved slightly, the token remains below all major daily moving averages and continues to face strong resistance from a broader descending structure.
Price tests Fib level and dynamic resistance zone
The daily chart shows price stabilizing at a critical retracement level following a multi-week decline from highs near 0.00000136. The 0.236 Fib line now acts as a near-term pivot, with a sustained close above this level potentially triggering a rally toward the 0.00000103 (38.2%) and 0.00000115 (61.8%) levels. However, the overall structure remains bearish, and PEPE continues to trade below its 20, 50, 100, and 200-day EMAs.
PEPE price dynamics (Source: TradingView)
On the 4-hour timeframe, the token has reclaimed its 20/50/100 EMA cluster and is consolidating just below the 200 EMA near 0.000001051. The Bollinger Bands have widened following a prior squeeze, hinting at renewed volatility. A breakout above the short-term descending triangle has improved sentiment, but the zone between 0.00000100 and 0.00000105 remains the key hurdle for bulls.
Indicators show rebound momentum but caution warranted
Intraday indicators show rising short-term strength. The 30-minute RSI is hovering near 66.9—close to overbought territory—while the MACD is holding in positive divergence. These suggest upward momentum remains intact in the near term, though some cooling may occur unless the breakout is backed by stronger volume.
Previously discussed analysis highlighted PEPE’s breakdown into lower ranges and bearish EMA stack. While today’s rebound offers early signs of recovery, a daily close above 0.00000105 is needed to shift broader sentiment. Until then, PEPE remains vulnerable to retests of 0.00000091 or even the June low near 0.00000083.
