PEPE was trading at $0.0000038 at the time of writing, up 5.80% over the previous 24 hours. On hourly charts, the token has been holding an upward trendline and printing higher lows, while repeated tests of the $0.0000031 area have not led to a breakdown.
Technical watchers described $0.0000031 as an accumulation zone. Price has kept finding support there, a sign that buyers are absorbing sell pressure instead of giving up the level. That leaves the market focused on the next upside barrier at $0.0000045.
Hourly structure keeps the short-term bias positive
The chart setup in the source points to a fairly clear short-term uptrend. Lows have been rising, and the main support zone has survived several retests. That matters. As long as the trendline and the $0.0000031 floor stay intact, the current recovery structure remains in place.
If that support fails, the bullish case weakens quickly. For now, traders are not looking at a broad narrative as much as they are watching whether buyers can keep defending the same level again and again.
Wyckoff accumulation pattern enters the discussion
The report also links PEPE’s recent price action to a Wyckoff accumulation pattern. According to the analysis, the token first went through a heavy sell-off phase described as a selling climax, then shifted into a bullish CHoCH, or change of character, suggesting buyers had started to regain control.
After that turn, price met its first resistance and consolidated in the Last Point of Support, or LPS, phase. The source says buyer strength at this stage helped limit downside risk. The gradual gains that followed are being read as an early sign that PEPE may be moving into a markup phase, where rallies can build speed if LPS continues to hold.
Risk appetite in broader markets supports speculative assets
Beyond the chart, the article points to several macro factors affecting sentiment. Signs of a ceasefire in the Middle East, easing diplomatic tensions in Islamabad, and lower oil prices were cited as developments lifting global risk appetite, including in crypto trading.
The same report says a softer inflation outlook and better market mood are helping direct capital toward speculative assets such as cryptocurrencies. Analysts quoted in the piece said lower geopolitical tension tends to increase interest in risk-on digital assets.
$0.0000045 stands as the next upside hurdle
For the near term, the main question is whether PEPE can keep its rising trendline intact. The source identifies $0.0000045 as the critical short-term target and the next major resistance area if bullish momentum continues.
On the downside, a drop below $0.0000031 would damage the current technical setup. The article mentions that longer-term questions remain open, but in the immediate picture, market attention is centered on whether PEPE is entering a renewed uptrend.