After a volatile May that saw multiple failed breakout attempts, the PEPE price today continues to show signs of weakness, with the memecoin struggling to hold above its near-term support. As of writing, PEPE price is trading around $0.00001151, slightly down on the day, and remains under considerable selling pressure after last week’s breakdown from the $0.00001400–$0.00001500 range. The broader structure remains tilted to the downside, and traders are now questioning why PEPE price going down today despite brief consolidation attempts. What’s Happening With PEPE’s Price? PEPE price dynamics (Source: TradingView) On the 4-hour chart, PEPE has broken below a key ascending support line, triggering a bearish continuation pattern that has yet to find meaningful reversal signals. A clear descending triangle has formed between $0.00001265 resistance and $0.00001100 support, confirming persistent PEPE price volatility amid tightening ranges. The PEPE price action remains heavily influenced by broader market risk sentiment and declining momentum indicators. With multiple rejections from the $0.00001280–$0.00001300 resistance zone and failure to reclaim the 100-EMA cluster, sellers have dominated every intraday rally since May 29. Technical Indicators Signal Extended Weakness PEPE price dynamics (Source: TradingView) The Bollinger Bands on the 4-hour chart are starting to contract again after a brief volatility spike, indicating indecision and a possible pause before the next directional move. Price remains pinned below the 20, 50, 100, and 200 EMAs ($0.00001194 to $0.00001280), highlighting a clear bearish alignment of moving averages. The MACD on the 30-minute chart shows a bearish crossover, with both the signal and MACD line drifting further into negative territory. The RSI is currently sitting around 45.76, reflecting weak buying interest and the lack of any oversold bounce. PEPE price dynamcs (Source: TradingView) Ichimoku Cloud analysis adds to the caution. On the 30-minute timeframe, price is struggling to hold above the base line and has remained below the Kumo cloud for most of the past 48 hours. This confirms bearish continuation, with the cloud acting as dynamic resistance between $0.00001165 and $0.00001173. Short-Term Price Levels to Watch Looking at the near-term structure, PEPE is trading inside a narrow symmetrical triangle on the 1-hour chart, with lower highs forming under the $0.00001185 zone and support at $0.00001140. A breakdown below this level would expose the price to the next demand area around $0.00001092. Conversely, a breakout above $0.00001185 could trigger a retest of the $0.00001233 resistance, though strong rejection zones remain active above. PEPE price dynamics (Source: TradingView) The daily chart also confirms the larger descending triangle, with clear trendline resistance from the May 27 peak and support holding just above the Fib 0.618 level at $0.00001120. A daily close below this Fib retracement would signal a broader trend shift toward the $0.00001000–$0.00001020 zone, a major support cluster from earlier in May. Momentum Oscillators Confirm Downward Pressure PEPE price dynamics (Source: TradingView) The Chande Momentum Oscillator remains firmly in negative territory across multiple timeframes, with the latest 30-minute reading at -40.62, signaling extended weakness and lack of accumulation at current levels. Stochastic RSI also remains below the 50 threshold, with multiple bearish crossovers occurring on the 30-minute and 4-hour timeframes. The repeated failure to reclaim the 80 zone shows that bulls are unable to generate sustainable rallies, leaving the PEPE price update leaning toward further compression. Forecast Outlook: Can PEPE Find a Base or Will It Break Lower? PEPE price dynamics (Source: TradingView) Unless a decisive breakout occurs above $0.00001233 with volume support, the structure favors a continuation of the bearish move. Current price compression and weak oscillator momentum suggest that the PEPE price could head lower toward $0.00001080–$0.00001050 if $0.00001100 fails to hold. That said, should market sentiment improve and a bounce materialize, the first upside target remains the 50 EMA at $0.00001205, followed by the red supply zone between $0.00001260–$0.00001280. PEPE Price Forecast Summary Indicator/Zone Level/Action Immediate Resistance $0.00001185 Major Resistance Zone $0.00001265–$0.00001280 Immediate Support $0.00001100 Key Breakdown Level $0.00001092 MACD (30-min) Bearish RSI (30-min) 45.76 (neutral-bearish) Ichimoku (30-min) Bearish below cloud Momentum (ChandeMO) -40.62 (weak) Overall, unless bulls step in with volume-backed breakouts, the PEPE price today remains vulnerable to further downside. With compression at multi-session lows and momentum still favoring sellers, the memecoin risks further slippage unless broader market conditions stabilize. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.