PEPE Drops 41%: Can the Memecoin Hold Its Final Support and Trigger a Rebound?

PEPE trades near its final weekly support after a confirmed head-and-shoulders breakdown, as analysts monitor price movement for directional clarity.

Oversold indicators and historical stochastic RSI resets, suggest an early reversal if buying pressure increases.

The support ranges between $0.00000389 and $0.0000042 is acting as the current market focus.

PEPE memecoin confirmed a breakdown that has reshaped its market structure. TAnalysts are now monitoring whether the asset can stabilize or extend its decline.

Head and Shoulders Breakdown Drives Market Attention

PEPE price chart has formed a clear head and shoulders pattern on higher timeframes. Analyst Ali noted that PEPE/USDT broke below its neckline on the three-day chart, sending the market into a deeper retracement

According to his assessment, price has fallen through several Fibonacci zones with limited resistance.The current level near $0.000000446 reflects ongoing weakness, with the chart showing a steep descending structure

Ali’s projection includes extension levels at 1.272 and 1.414, suggesting possible areas where price may attempt to stabilize. If momentum persists, the 1.618 and 1.786 extensions remain open targets in his technical scenario.

Source: Ali

Market participants watching PEPE price outlook observe that the failure to reclaim the neckline continues to weigh on sentiment. Analysts describe the structure as bearish unless buyers produce a higher low or reclaim former support.

Alternate Bullish View Points to Oversold Market Levels

A contrasting perspective appears in the community commentary, offering another angle on the PEPE price outlook. Some analysts argue that the c-leg’s fifth wave is near completion, suggesting the market could be preparing for a shift

The weekly stochastic RSI sits at historical reset levels, appearing only three times before according to the commentary.

Source: Davis Satoshi

In those earlier cases, PEPE followed with large impulsive moves, creating interest among bullish traders watching for early signs of recovery.

Supporters claim the next strong move could form the first wave of a larger pattern. They also signal their belief that PEPE will remain among persistent memecoins, although this view remains speculative and depends on market behavior.

Support Region Becomes Key Area as Market Waits for Direction

Market watcher, PepeEthWhale added context by noting that PEPE has dropped about 41% after the breakdown. On the weekly chart, the asset now trades inside the support range between $0.00000389 and $0.0000042

This area is described as the final major historical support visible on the timeframe.A retest toward $0.0000059 remains possible if buyers attempt to stabilize the market. Such a move could temporarily pause the broader downtrend

Analysts watching the PEPE price outlook consider this retest a potential short-term objective as liquidity forms near current levels.If the support band fails, the decline could extend as structural support would no longer hold

Market participants continue to monitor the weekly close for directional clues, as volatility across the wider crypto market still influences memecoin performance.

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