PEPE Faces Bearish Signal Despite Short-Term Price Jump

Frog-themed meme coin PEPE has confirmed a “death cross” on its four-hour chart, a bearish technical indicator triggered when the 50-period simple moving average (SMA) crosses below the 200-period SMA. This development signals potential downside momentum, especially as PEPE continues to trade beneath key moving averages on both the four-hour and daily charts.

Despite this, PEPE saw a 6.27% uptick over the past 24 hours, reaching $0.000006757, supported by a broader crypto market rebound. The positive sentiment follows U.S. inflation data showing core CPI rose just 0.1% month-over-month in March—the smallest increase in nine months. Year-over-year, core inflation rose 2.8%, the slowest pace in over four years, boosting investor confidence.

However, PEPE’s technical setup remains challenging. The meme coin is currently testing its four-hour 50 and 200 SMAs at $0.00000673 and $0.00000709, respectively. These levels have acted as strong resistance, limiting upward momentum since PEPE's all-time high of $0.00002825 in December 2024.

For a sustained recovery, PEPE must break above these resistance levels and convert them into support. This would likely require increased buying pressure fueled by strong market sentiment or fresh capital inflows. Until then, PEPE risks further decline, especially with sellers defending these resistance zones.

A bullish breakout could push PEPE towards targets of $0.000014 and $0.000021, while a failure to hold current levels may see it retest support near $0.000003. As market volatility persists, traders remain cautious, watching closely for signs of strength or further weakness in the meme coin’s trend.