After many days of increases, the Pepe Coin price is flashing potential warning signs as its rally shows signs of fatigue. After recording a 50.40% surge in just the last seven days, technical indicators now suggest a potential pullback could be on the horizon. With this price growth, $PEPE has outperformed both the crypto market and Ethereum-based assets.
The daily PEPE price chart shared by crypto analyst @ali_charts shows recent price action using Fibonacci retracement levels and on-chain signal indicators. PEPE trades around $0.00001358 at the time of writing, down 2.29% on the day, after hitting an intraday high of $0.000014146.
Pepe Coin Price Rally Exhausted
The chart marks three critical inflection points using what appears to be a trend exhaustion model. The earliest signal, marked “A13” on May 6, indicated a bullish pivot at the 0.236 Fibonacci level ($0.00000722). This coincided with a rebound after a sustained downtrend in late April.
The bullish signal proved accurate, as the PEPE price subsequently staged a rally. It broke through several resistance levels, including the 0.382 ($0.00000834). Additionally, Pepe Coin moved past 0.5 ($0.00000938) and 0.618 ($0.00001054) Fibonacci zones.
The second signal, marked as “1” with a green arrow on May 9, appeared before PEPE catapulted past the 0.786 retracement ($0.00001245). It made a sharp move toward the full 1.0 Fibonacci extension at $0.000015394.
The most concerning aspect is the third signal on the chart, marked again as “1” but this time with a red downward arrow. It suggests a bearish reversal or at least a period of consolidation. This signal coincides with the price hovering just below the $0.000015394 resistance.
This raises the possibility of forming a local top. The price has already retraced to the $0.00001350 range, aligning with the market cooling down after a week of aggressive buying.
Crypto Market Signals Support for Sell Recommendations
The market context adds weight to the sell signal. While PEPE has outperformed impressively, gaining 50.40% in a week compared to just 2.60% for the crypto market, such explosive growth often attracts short-term profit takers. Traders may view this moment as an ideal opportunity to lock in gains, especially with the meme coin now facing resistance ahead.
The psychological barrier around the $0.000015 level may attract sell orders. If the price fails to establish support above the key level, traders should watch for a potential retracement toward the 0.786 ($0.00001245) Fibonacci levels. It could also fall to 0.618 ($0.00001054) Fibonacci levels.
While the long-term uptrend remains intact, traders should monitor volume and candle structure over the next few sessions. If bearish momentum intensifies and breaks below support, the pullback could deepen. On the flip side, consolidation followed by a clean breakout above $0.000015394 could invalidate the sell signal.
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