As the larger part of the cryptocurrency market takes a red turn again, Pepe (PEPE) may be setting up for a comeback, the TD Sequential indicator flashing not one but two buy signals on its daily chart, a setup that traders often watch for signs of potential reversal after a downtrend.
Indeed, the signal appeared after PEPE dipped toward support near $0.0000095, where buyers seem to be stepping back in, according to the analysis by popular crypto trading expert Ali Martinez shared in an X post on September 25.
As it happens, this technical pattern has historically preceded short-term rallies in various assets, including Bitcoin (BTC) and Ethereum (ETH), and suggests that momentum could be shifting after weeks of downward pressure. If support at $0.0000095 holds, PEPE could target the next resistance levels around $0.000011 and $0.000012.
For the time being, Pepe is seriously testing this support, changing hands at the price of $0.0000094, indicating a 3.46% decline in the last 24 hours, a drop of 17.71% across the previous seven days, and dipping 5.92% on its monthly chart, according to the most recent data.
Meme coin comeback?
As a reminder, PEPE captured headlines in 2023 with its explosive debut, creating millionaires overnight during the height of meme coin mania. While it has since cooled off, the token remains a speculative favorite, with traders quick to jump on signals that hint at renewed hype cycles.
All things considered, meme coins like PEPE are highly sentiment-driven, which means that trader psychology plays a massive role, but technicals help frame possible moves. And with Bitcoin and Ethereum hinting at possible recovery, smaller speculative assets like PEPE may ride the wave if bullish momentum spreads.
For now, all eyes are on whether PEPE can defend its recent low and push higher, or if this double signal ends up as another fakeout.
What do you think?
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