PEPE trades below the yellow trend line as traders watch $0.00000083 support and $0.00000460-$0.00000713 resistance.
PEPE remains under short-term pressure as price continues to trade below a key trend line. The meme coin has not yet confirmed that its recent decline has ended.
The latest chart view points to a possible corrective bounce before another move lower. However, the broader setup still favors caution while price stays below trendline resistance.
More Crypto Online said PEPE could still form a wave 4 recovery in the near term. That view would change if buyers push price above the yellow trend line.
The main support level now sits near the January 2024 low around $0.00000083. A break below recent lows would keep that level in focus for traders.
PEPE Stays Below Key Trend Line
More Crypto Online said PEPE remains in a short-term downtrend. The analysis noted that price is still trading below the first key trend line. This keeps downside pressure active in the current market structure.
$PEPE
PEPE remains in a short-term downtrend, with price continuing to trade below the first key trend line. While a corrective wave 4 bounce cannot be ruled out, there is no confirmation that the decline has ended.Leading Scenario: The preferred view remains for another leg… pic.twitter.com/NSTcS9VrHn
— More Crypto Online (@Morecryptoonl) July 12, 2026
A trend line is used to track the direction of price movement. When price stays below a falling trend line, sellers often keep control. PEPE has not yet shown a clear break that would weaken that setup.
The analyst said there is no confirmation that the decline has ended. This means traders may need more price strength before calling a reversal. For now, the trend line remains the main barrier for PEPE buyers.
Corrective Bounce Remains Possible
The analysis said a corrective wave 4 bounce cannot be ruled out. In simple terms, this means PEPE could recover briefly within a larger downtrend. Such moves often happen before price resumes its earlier direction.
The leading scenario still allows for another leg lower after any bounce. This keeps the bearish view active while PEPE remains below the yellow trend line. Buyers would need a clean breakout to shift the short-term setup.
If PEPE breaks above the yellow trend line, the recovery case would improve. The next resistance area would then sit between $0.00000460 and $0.00000713. Until that happens, the bounce remains unconfirmed.
Read also: PEPE Eyes 55x Rally as Weekly Accumulation Zone Signals Major Breakout
Traders Watch January 2024 Low
The key downside level is the January 2024 low near $0.00000083. Crypto Online said this level may return to focus if recent lows break. That would suggest sellers still control the wider move.
The resistance levels remain the yellow trend line and the $0.00000460 to $0.00000713 zone. A move into that range would require stronger buying pressure. It would also need price to move above the current trend barrier.
PEPE’s next move may depend on how price reacts near recent lows. Holding above them could allow a temporary recovery attempt. Losing them would keep the market focused on the $0.00000083 support level.
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