After a stunning surge from the $0.00001000 base earlier this month, the PEPE price is currently consolidating near the $0.00001550 mark, posting over 45% gains in less than two weeks. This sharp climb has brought the meme token back into focus, but momentum indicators now flash early caution signs even as bulls eye higher Fibonacci targets. What’s Happening With PEPE’s Price? PEPEUSD price analysis (Source:TradingView) On the weekly chart, PEPE price action shows a clean reversal from the multi-month lows, breaking past the 23.6% and 38.2% Fibonacci retracement levels. The rally reclaimed the psychological $0.00001200 mark and is now attempting to hold above $0.00001500—an area that previously acted as support before the February selloff. PEPEUSD price analysis (Source:TradingView) The breakout from the $0.00001020–$0.00001200 consolidation range has been backed by rising volume and structure confirmation. This suggests bulls are attempting a larger reversal, especially as the token climbs toward the 50% retracement zone near $0.00001800. Daily Structure Signals Exhaustion After Vertical Move PEPEUSD price analysis (Source:TradingView) On the daily chart, PEPE price spikes accelerated after clearing a falling wedge formation and retesting support zones near $0.00001050. This move triggered a rapid expansion through layered resistance, closing multiple daily candles above prior rejection points. However, the current candle shows a long upper wick, suggesting intraday selling pressure around the $0.00001600 level. PEPEUSD price analysis (Source:TradingView) The RSI is now approaching overbought territory near 68.7, while the MACD histogram remains elevated but is beginning to flatten—an early sign that the vertical push may be cooling off. Bulls need to defend the $0.00001400–$0.00001450 area, which coincides with the upper bound of the previous breakout zone. A breakdown below this region could expose PEPE to a drop back toward $0.00001280. Why PEPE Price Going Up Today? PEPEUSD price analysis (Source:TradingView) The question is: why PEPE price going up today despite short-term resistance? The answer lies in both technical and sentiment drivers. The breakout was initiated from a classic wedge pattern seen on lower timeframes and was sustained by bullish momentum across the broader altcoin sector. Memecoin optimism also played a role, as speculative capital rotated back into high-volatility assets following Bitcoin’s stabilization above $110K. PEPE’s breakout also coincided with the token reclaiming its 50 and 100 EMA clusters on the 4-hour chart. The surge above $0.00001350 invalidated the descending channel and flipped short-term market structure in favor of buyers. Momentum Indicators Show Mixed Bias on Lower Timeframes On the 4-hour and 30-minute charts, Bollinger Bands have expanded significantly, while RSI on the 30-minute chart has begun to roll over from a peak near 70, now sitting near 54.53. This shows that PEPE price volatility may remain high in the short term, but direction is uncertain.The MACD line on the 30-minute frame has just completed a bearish crossover, and histogram bars are now red, signaling fading bullish momentum. PEPEUSD price analysis (Source:TradingView) Ichimoku analysis also suggests a possible pause: PEPE remains above the cloud, but Tenkan-Sen and Kijun-Sen have begun flattening. The Chande Momentum Oscillator has dropped to -18.71, supporting the likelihood of a minor pullback or sideways range before another attempt higher. Short-Term PEPE Price Outlook: Can $0.000015 Hold? PEPEUSD price analysis (Source:TradingView) The key near-term support sits around $0.00001430–$0.00001450, with further demand expected near $0.00001370. A breakdown below $0.00001320 could trigger broader liquidation, dragging the price back toward the $0.00001260 area where the previous trendline breakout occurred. On the upside, bulls must overcome resistance at $0.00001590 and then aim for the next key level near $0.00001750. Beyond that, the 50% Fibonacci retracement at $0.00001800 remains the next major upside magnet. Until PEPE breaks cleanly above $0.00001600 with volume confirmation, traders can expect tight-range consolidation driven by PEPE price volatility and profit-taking. PEPE Price Forecast Table: May 24 Indicator/Zone Level (USD) Signal Resistance 1 0.00001590 Intraday rejection zone Resistance 2 0.00001750 Next upside target Support 1 0.00001430 Immediate holding zone Support 2 0.00001320 Breakdown trigger 200 EMA (4H) 0.00001124 Macro dynamic support RSI (30-min) 54.53 Cooling from overbought MACD Histogram (30-min) Negative Bearish crossover Bollinger Bands Expanding Volatile price action Ichimoku Cloud (30-min) Above Cloud Trend support intact Chande Momentum Oscillator -18.71 Signs of correction brewing The PEPE price today shows resilience, but with lower-timeframe indicators flashing caution, bulls must tread carefully. A clean break above $0.00001590 is needed to reignite momentum—else, a short cooldown could follow this week’s impressive rally. 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.