$PEPE fell 2.1% to $0.000005961, with bearish trend signals emerging from a Stochastic RSI crossover on the 3-day chart. Analyst @NFTdavie notes the pattern could precede a major pullback, even after breaking out of a descending wedge. The token remains in a long-term bearish channel, needing a strong 'god candle' in BTC or ETH to reverse. Key support is at $0.000005, with RSI and broader market conditions adding to the uncertainty.
Stoch RSI crossover on $PEPE 3-day chart historically precedes major pullbacks, urging investor caution despite wedge breakout.
$PEPE trades at $0.000005961 (-2.1%) within bearish channel; needs BTC/ETH “god candle” to invalidate downside signals.
Key support at $0.000005 critical as memecoin awaits major coin rally amid Bitcoin below $150K and regulatory pressures.
The ever-volatile world of memecoins, $PEPE has once again captured the attention of traders with a concerning technical analysis shared by prominent crypto enthusiast @NFTdavie on X. $PEPE trades at approximately $0.000005961, reflecting a 2.1% decline over the past 24 hours, with a market cap hovering around $2.51 billion and daily trading volume exceeding $292 million, according to CoinGecko data. This comes amid broader market pressures, where Bitcoin and Ethereum’s performance directly influences Ethereum-based tokens like $PEPE.
God Candle Requirement for Reversal
@NFTdavie’s analysis, posted on January 10, highlights ominous patterns on the 3-day chart. The Stochastic RSI (Stoch RSI) has peaked and crossed over, a momentum indicator that has preceded significant pullbacks in the past. Marked by pink arrows and circles, these crossovers from oversold to overbought territories have consistently led to price corrections. While $PEPE recently broke out of a descending wedge—suggesting bullish potential—it has yet to challenge the upper boundary of a long-term bearish channel, represented by a yellow trendline. This resistance could prove pivotal, potentially capping any upside unless breached convincingly.
Not liking the bitcoin chart and that's going to affect ethereum and thus $PEPE. I want to be wrong but here is what I see objectively in the 3 day chart
The stoch RSI (or momentum) has peaked and has crossed over (pink arrow). Every time, the stoch RSI… pic.twitter.com/IAPjIVk7eu
The analyst emphasizes that a “god candle”—a sudden, massive surge—in $BTC, $ETH, and $PEPE could invalidate these bearish signals. However, without renewed momentum, the chart warns of heightened risk. This sentiment aligns with recent reports of institutional hurdles facing $PEPE and other memecoins like $XRP derivatives, as regulatory scrutiny intensifies in 2026. Meanwhile, the memecoin sector shows signs of revival, with projects like APEMARS raising over $50K in presales and $PEPE featuring in MetaMask’s top swaps, indicating sustained community interest.
Memecoin Sector Mixed Signals
Historically, $PEPE’s all-time high of $0.00002803 was hit, a peak that seems distant amid the current downtrend from mid-2025 highs. Traders are advised to monitor key support levels around $0.000005, where the chart shows prior bounces. With Bitcoin struggling below $150,000 and Ethereum under $6,000, the interconnected crypto ecosystem amplifies $PEPE’s vulnerability.
The memecoins continue to blend humor with high-stakes trading, @NFTdavie’s objective breakdown serves as a timely reminder: in crypto, patterns repeat until they don’t. Investors should diversify, set stop-losses, and watch for macroeconomic cues, such as upcoming Fed decisions, that could spark the needed rally. For now, caution reigns supreme in the frog-themed token’s pond.
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