PEPE Nears $0.000015 Resistance After Forming Cup & Handle Pattern

PEPE has formed a classic Cup & Handle pattern on daily timeframes from January to July 2025, indicating a potential bullish breakout ahead. The pattern includes a well-defined cup base and a shallow handle consolidation phase in July, with resistance forming at $0.000015. Traders are closely monitoring whether the token can overcome this key level to confirm the continuation of a bullish trend [1].

The cup’s formation started in mid-April following a gradual downtrend, with the price recovering to form the upper rim of the cup near $0.000015 by late May. After a peak, the token retraced and entered a consolidation phase in early July, forming the handle, which typically signals buyer strength at higher levels [1]. The current price of PEPE/USDT is trading around $0.00001272, with multiple attempts to push above $0.000015. Candles show tightening activity under resistance, suggesting growing pressure for an upward move [1].

From a technical perspective, indicators are signaling a buildup of momentum. The Bollinger Bands are currently tightening, with the upper band at $0.00001420 and the lower at $0.00001148. PEPE is trading just below the 20-day simple moving average of $0.00001284. The Stochastic RSI has also dropped into the oversold zone, with values at 7.82 and 7.28, indicating weakened short-term bearish pressure and a possible setup for a reversal [1].

According to data shared by Crypto Target on X, a breakout above $0.000015 could lead to a target range of $0.00002500 to $0.00003900. This projection is based on adding the depth of the cup to the neckline level. If confirmed with volume support, the price could enter a new impulsive phase, aligning with broader bullish expectations in the memecoin space [1].

PEPE continues to maintain a large market presence, with a circulating supply of 420.68 trillion tokens, a 24-hour trading volume exceeding $892 million, and a market capitalization over $5 billion. These metrics underline the token's significance in the crypto market despite its volatility. Analysts are cautious but optimistic, noting that the pattern’s structure is well-formed and consistent with historical setups [1].

The coming days will be critical as PEPE tests the $0.000015 level once again. A successful breakout would not only validate the Cup & Handle pattern but also potentially reignite broader interest in memecoins, which remain a volatile yet dynamic segment of the market.

Source: [1] PEPE Forms Bullish Cup & Handle Pattern, Eyes Breakout Toward $0.000033 Zone (https://cryptonewsland.com/pepe-forms-bullish-cup-handle-pattern-eyes-brea/)