Fidelity1

#PEPEBrokeThroughDowntrendLine : Memecoin Breaks Key Resistance After Extended Sell-Off PEPE has cleared a multi-week downtrend resistance line, signalling a potential shift in market structure after prolonged consolidation and muted volatility, according to recent technical analysis. Analysts tracking on-chain and price action data noted that a break above the descending trendline was confirmed by a strong impulse candle, backed by solid buying demand and a volume base forming near lower levels — a classic early breakout signal. Following this technical breakout, traders are watching whether PEPE retests the breakout zone — now acting as support — while nearby Fibonacci levels and resistance zones mark potential upside targets. Some community observers also point to a significant token burn event alongside the breakout, adding a deflationary catalyst. Market Implication: A confirmed breakout above the downtrend line could shift short-term momentum out of bearish compression, though meaningful follow-through will depend on defense of support and continued volume expansion.