PEPE has climbed about 11% over the past week, reversing a stretch of muted trading and weaker attention. The move has brought buyers back into the market, with short-term sentiment improving after several weeks of limited price action.
On the 4-hour chart, PEPE continues to trade inside a rising parallel channel. The structure remains intact. Price has kept printing higher lows while respecting both sides of the channel, pointing to steady demand as buyers continue to defend support zones.
Rising Channel Holds, but Sellers React Near the Upper Boundary
PEPE recently moved back toward the top of the channel, showing that buying interest is still present close to resistance. Sellers responded at that level, and the token saw a modest rejection. That reaction suggests momentum may be cooling in the short term, leaving room for a retest of mid-channel support before another push higher.
Momentum readings still favor recovery rather than excess. The Relative Strength Index sits near 64, a level that signals underlying strength without showing overheated conditions. The Awesome Oscillator has also turned positive again, indicating bullish momentum has resumed after a brief pause.
On-Chain Data Shows User Activity Growing Faster Than Price
Blockchain data adds support to the current move. Price to Daily Active Addresses divergence has turned positive, which means user participation is expanding faster than the token’s price. That shift usually points to stronger underlying demand, giving the current rebound a firmer base.
On the daily chart, PEPE has broken above symmetrical triangle resistance, opening up the previously tightening trading range. Even so, the market still faces a clear ceiling near the 0.236 Fibonacci level at roughly $0.00000408. The area has rejected price more than once, though buyers continue to test it and keep pressure on that zone.
MACD and Money Flow Improve as Traders Watch Key Support and Resistance
The MACD is showing a mild bullish crossover, and the histogram has turned slightly positive, both of which fit an early recovery phase. The Money Flow Index is near 60, suggesting capital inflows remain steady while the market is not yet in overbought territory.
If PEPE clears the resistance trendline and reclaims the $0.00000408 area, the next upside target sits around $0.0000047. A stronger bullish extension could bring the token closer to $0.0000055. On the downside, a drop below key support at $0.00000345 would weaken the current setup and expose the lower area near $0.0000031.