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PEPE’s Price Pullback: Is This the Comeback of the Century?

BBG News

Well, dash my wig and call me a chartist! PEPE, that plucky little amphibian of the crypto pond, has just bounced off a resistance level with all the grace of a startled duck. The result? A modest pullback in what remains a rather chipper uptrend. Yet, if you listen closely to the technical indicators (and who among us doesn’t enjoy a good chinwag with a Fibonacci retracement?), they’re still humming a bullish tune, suggesting a higher low is brewing like a strong cup of tea.

After PEPE’s price action cooled its heels at resistance, the broader trend is still as bullish as an over-caffeinated bull in a china shop. The latest dip is being eyed by market participants with the sort of hopeful optimism usually reserved for long-lost uncles at family reunions. If PEPE can hold its ground at key support, we may well see this rally continue—possibly with more gusto than a butler at afternoon tea.

Key technical points

  • Support Zone Confluence: Price is currently loitering around the value area high, rubbing shoulders with the 0.618 Fibonacci retracement and VWAP—like three old school chums plotting bullish mischief.
  • Bullish Market Structure: Higher highs and higher lows are still the order of the day; this pullback is less a disaster and more a polite pause for breath.
  • Volume Profile Insights: There’s been a recent volume climax (steady on!), which might suggest a local top, but any real continuation will need buyers to show up with the enthusiasm of a dog at dinnertime.

After being shown the door at local resistance, PEPE has retreated into what analysts call a “high-probability demand zone”—or as Aunt Agatha would say, “a jolly good spot for a comeback.” This area, defined by the value area high, 0.618 Fibonacci level, and VWAP, is acting as a dynamic support zone. With all these indicators piling on top of each other, it’s practically begging for bullish intervention.

From a structural perspective, PEPE is still strutting about with higher highs and higher lows. The recent correction isn’t so much a sign of doom as it is an opportunity for the market to catch its breath and adjust its monocle. As long as this higher low structure remains intact and price closes above support on the 4-hour chart, further upside seems as likely as Jeeves having the answer to everything.

Volume, that ever-mysterious force, is also in play. While the recent spike hinted at some short-term exhaustion (understandable after all that bullish excitement), it doesn’t spell long-term disaster. Instead, it’s more like a gentle reminder to pace oneself. For PEPE to leapfrog resistance and reach new heights, buyers will need to muster their courage—and their wallets—with renewed vigor.

What to expect in the coming price action

If PEPE manages to cling to this key support zone like a limpet to a rock, another run at local resistance could be on the cards. Should it break through—fueled by robust volume—we might witness an expansion phase worthy of song and legend (or at least a few celebratory emojis 🐸🚀). Until proven otherwise, dips like these are less cause for alarm and more an invitation for opportunistic bulls to join the dance.

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2025-05-23 21:43

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