PEPE has slipped back into a critical technical zone after an early recovery attempt lost momentum, leaving traders split between a longer-term bullish breakout and a short-term bearish continuation pattern.
The meme coin was trading around $0.00000433 on September 30, up about 1.64% from the daily open. The session ranged from $0.00000423 to $0.00000452, but price retreated from the upper boundary and remained roughly 18% below September’s spike above $0.0000053.
PEPE’s recent history shows why conviction remains fragile. After reaching about $0.0000072 in January 2026, the token fell to roughly $0.0000023 in July, a decline of about 68%. Although the subsequent rebound produced an 88% gain, price is still far below its all-time high of $0.00002829, and rallies have tended to invite profit-taking.
On the daily chart, PEPE held above the 20-day Bollinger midpoint near $0.00000402. The upper band sat at $0.00000502 and the lower band at $0.00000302. The 14-day RSI was 57.96, above neutral but below its moving average of 62.40, indicating that buying pressure has cooled since the September surge.
Weekly momentum is more encouraging. PEPE traded above the 20-week simple moving average near $0.00000324 and the 50-week average near $0.00000396. The weekly MACD histogram was positive, though both MACD lines remained below zero. Analyst Moustache described PEPE as having broken out of a 2.5-year falling wedge on the weekly chart, a longer-term bullish signal.
Short-term views are more cautious. Crypto With Gopal flagged a bearish pennant on the 4-hour chart, with key support at $0.0000041. A breakdown from that level could open a move toward $0.0000030, about 31% below the daily price. He placed the pattern’s invalidation level around $0.0000047.
Liquidation data from CoinGlass showed notable clusters near $0.00000416 below price and between $0.00000444 and $0.00000452 above it, reinforcing the importance of nearby support and resistance. For U.S. holders, the SEC’s Division of Corporation Finance stated in February 2025 that typical meme coins generally fall outside federal securities laws, though fraud may still be pursued under other laws.
