Pepe (PEPE) faced renewed pressure at the start of the new quarter, trading around $0.000000948 on July 1 with an intraday decline of nearly 2.8%. After a significant pullback from its mid-June highs, the memecoin is approaching a major structural support zone.
Key Takeaways
- PEPE dropped 2.8% to $0.000000948 as bulls struggle to defend critical support
- Price trades below all major EMAs; MACD and DMI indicate strengthening bearish momentum
- A breakdown below $0.00000094** may pave the way toward **$0.00000090 and $0.00000087
With bearish momentum accelerating and short-term indicators deteriorating, PEPE enters July in a technically vulnerable state.
Descending Triangle Narrows Near Critical Support
The daily chart continues to reflect a macro downtrend, with repeated failures to break the $0.00000110–$0.00000120 resistance band. A descending triangle pattern has now formed, anchored by horizontal support near $0.000000944. Repeated lower highs and sustained breaks below the 100-day moving average reinforce the current bearish structure.
On the 4-hour timeframe, PEPE has lost control above the 50 and 100 EMAs, hugging the lower Bollinger Band. All four key EMAs (20, 50, 100, and 200) now slope downward. If $0.00000094** fails to hold, the next major support lies near **$0.00000090—the base of June’s consolidation range.
Indicators Confirm Bearish Bias Amid Strengthening Downside Momentum
The 30-minute RSI has dipped to 34.58, entering oversold territory but not yet at reversal levels. The MACD histogram turns negative with expanding red bars, signaling increasing downward pressure. Meanwhile, the Directional Movement Index (DMI) shows a rising ADX alongside dominant -DI, confirming short-term bearish control. The Volume-Weighted Average Price (VWAP) sits firmly above the price, capping rebound attempts in a low-liquidity environment.
Unless bulls can reclaim $0.00000100** with volume and break descending resistance, July’s outlook remains weak. Traders should monitor for a breakdown below **$0.000000944, which could accelerate declines toward $0.00000090 or lower.
👉 Why PEPE’s technicals suggest caution for swing traders
FAQ: PEPE Price Dynamics
Q: What’s driving PEPE’s current downtrend?
A: Failed breakout attempts, weakening memecoin sentiment, and broader crypto market consolidation have compounded selling pressure.
Q: How strong is the $0.000000944 support level?
A: This zone held during June’s volatility but faces increased stress due to declining trading volumes and bearish on-chain metrics.
Q: Could PEPE rebound in July?
A: A reversal requires reclaiming $0.00000100 with sustained volume. Until then, the path of least resistance favors downside.
👉 Key chart patterns every crypto trader should know
Strategic Levels to Watch
- Resistance: $0.00000100 (psychological level), $0.00000110 (June swing high)
- Support: $0.000000944 (triangle base), $0.00000090 (June low), $0.00000087 (April 2024 consolidation)
With the triangle pattern compressing, the next decisive move could set PEPE’s trajectory for early Q3. Traders should prepare for volatility while monitoring Bitcoin’s influence on altcoin markets.