PEPE price tightens near key resistance as triangle squeeze nears breaking point
Pepe coils near $0.000001 as symmetrical triangle pattern tightens and breakout odds increase
Pepe is consolidating tightly just above $0.000001 as price coils into the apex of a symmetrical triangle pattern, signaling an imminent breakout. The meme coin has posted a series of higher lows since late June but has repeatedly failed to secure a clear breakout above short-term resistance near $0.000001045.
Highlights
- Pepe compresses inside triangle structure as price tests $0.000001045 resistance
- Short liquidations dominate at $1.16M as volatility nears a breakout point
- Bullish indicators form, but confirmation depends on reclaiming key resistance zone
Price currently hovers above the 0.5 Fibonacci retracement level at $0.000000954, with both bulls and bears showing signs of hesitation as volatility compresses across multiple timeframes.
Technical setup shows compression, but momentum tilts bullish
On the 4-hour chart, Pepe is pinned between the 20 and 200 EMAs, while the 50 and 100 EMAs are converging tightly near $0.000001015. Bollinger Bands have constricted sharply, reinforcing the idea that a breakout is imminent. RSI on the 30-minute chart has risen to 59, and MACD has confirmed a positive crossover, though follow-through remains tepid.
PEPE price dynamics (Source: TradingView)
These indicators suggest early bullish bias but also reflect uncertainty in volume commitment. If price breaks above the upper Bollinger Band near $0.000001022, the path toward $0.0000011 and $0.000001150 opens up. On the downside, $0.000000960 to $0.000000925 remains key demand.
Despite relatively flat spot price action, liquidation data reveals an imbalance in short positioning. Over the past 24 hours, short liquidations totaled more than $1.16 million, nearly double the $587,800 in long liquidations. This suggests bears remain more exposed in the event of a breakout. However, overall open interest has declined by 3.69% and total volume is down nearly 12% to $2.08 billion, showing that speculative positioning is thinning even as breakout potential builds.
Derivatives hint at upside risk amid indecisive structure
The long-short ratio on OKX is firmly skewed toward longs at 2.07, despite a broader market ratio of 1.012. This reflects growing speculative confidence in bullish continuation, although traders remain wary of false moves from within the triangle structure. As Pepe remains lodged just below the $0.000001045 resistance line, confirmation from price and volume will be crucial in validating the next move.
In previous coverage, we noted Pepe’s upward grind into symmetrical resistance and the repeated failure to hold above $0.000001050. That pattern has continued, but each pullback has produced higher lows, leaving the breakout door open. Traders should closely watch for resolution above $0.000001045 or a breakdown below $0.000000960 to determine directional bias.
