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The $PEPE token is exhibiting early signs of a bullish reversal, with a prominent double bottom pattern emerging on the daily chart. The meme-inspired cryptocurrency recorded a modest intraday gain of 1.43%, reaching $0.0000007385, buoyed by renewed optimism in the broader crypto market following Bitcoin’s surge past $84,000.

Technical Outlook: PEPE Token

After peaking at $0.000014 in January 2025, PEPE has endured a prolonged downtrend, losing more than 60% of its value amid market volatility. However, recent price movements have established a double bottom formation at the $0.000005681 level—an established technical pattern often associated with the end of a bearish phase and the potential onset of a bullish reversal.

Currently, the token is consolidating between the double bottom baseline of $0.000005681 and the neckline resistance at $0.00000888. Bullish candlestick formations within this range suggest increasing buying interest, potentially positioning the token for a breakout.

Key Technical Indicators

Fibonacci Retracement Levels

Should PEPE successfully break above the $0.00000888 neckline, Fibonacci retracement analysis highlights the following potential resistance targets:

38.2% level at $0.00001055
50% level at $0.00001237
61.8% level at $0.00001300 (long-term target)

These levels correspond with historical support zones, now acting as resistance.

Momentum Indicators

Relative Strength Index (RSI): Currently at 53.80, the RSI has transitioned from bearish to neutral territory. The steady upward trend since March suggests growing bullish momentum.
MACD: A bullish crossover has occurred, with the MACD line crossing above the signal line. The appearance of bright green histogram bars further reinforces the bullish sentiment.

Price Targets and Risk Levels

Support Levels:

$0.000005681 – Double bottom baseline
$0.000007313 – Recent consolidation low

Resistance Levels:

$0.00000888 – Double bottom neckline
$0.00001055 – 38.2% Fibonacci retracement
$0.00001237 – 50% Fibonacci retracement
$0.00001300 – 61.8% Fibonacci retracement
$0.00001000 – Psychological resistance

A confirmed breakout above the $0.00000888 neckline could trigger a 58% rally, with price targets ranging from $0.00001055 to $0.00001300. In an especially bullish market environment, the token could potentially climb toward the $0.000015 mark.

However, failure to hold support at $0.000005681 would invalidate the bullish setup and expose PEPE to further downside risk, potentially revisiting its yearly low near $0.00000050.

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