PEPE Breaks Above Descending Trendline As Daily Support Holds At $0.059144

PEPE surged above a long-term descending trendline after months of consolidation on the daily chart.

The key level at $0.059144 now acts as support, defining short-term structure after a sharp rally.

Trading activity increased sharply post-breakout, signaling stronger short-term fluctuations in market behavior.

PEPE’s market structure has shown a sharp technical breakout following a long consolidation phase. The move occurred after several months of price compression within a descending structure, similar to earlier accumulation periods seen on its daily chart. As of the latest figures, PEPE trades at $0.059218, marking a 1.3% decline in the last 24 hours. Its 24-hour range stands between $0.059144 and $0.059689, defining the nearest support and resistance levels respectively.

The token’s recent pattern indicates a clear breakout above its upper descending trendline, triggering a swift upward expansion. This breakout resembles the earlier price formation from the previous consolidation cycle, where PEPE also saw a significant volume increase before advancing. The recent move suggests the market is digesting a strong rally phase after a long accumulation base.

Strong Breakout Structure on the Daily Timeframe

On the daily chart, PEPE broke through a well-defined resistance trendline that had capped prices for weeks. This move resulted in a near-vertical candle sequence pushing prices sharply higher. The support area around $0.059144 has now become the primary level traders are observing for stability.

During the earlier consolidation, PEPE repeatedly tested the same horizontal base, forming a clear pattern of higher lows. This base ultimately acted as a launch point for the current breakout. However, with the latest short-term retracement, attention remains on whether the token sustains its footing near this recently reclaimed support level.

The pattern similarity between the current and earlier breakout phases has drawn market focus to potential continuity. Still, the token’s immediate trend will depend on whether buyers maintain control above the support range identified in recent sessions.

Market Behavior Reflects Renewed Volatility

PEPE’s current trading behavior highlights a renewed phase of volatility after several weeks of compressed movement. The breakout’s magnitude pushed the token rapidly toward its resistance area near $0.059689 before slight profit-taking set in. Despite the 1.3% daily decline, the broader structure remains technically elevated relative to prior lows.

Increased market activity has been visible since the breakout, with volume expansion supporting the move. Notably, PEPE’s earlier consolidation breakout exhibited a nearly identical structure, reinforcing the significance of the present support zone. Traders are now observing whether the price consolidates at higher levels before determining its next range. The consistent pattern of breakout followed by stabilization continues to define PEPE’s current market rhythm across major exchanges.