PEPE Approaches First Support Line as Analysts Watch Bollinger Bands Tighten

PEPE consolidates within a symmetrical triangle, with support 1 holding near $0.00001088.

Bollinger Bands tighten as traders anticipate a decisive breakout move in the coming sessions.

Analysts note Bitcoin and Ethereum stability could support PEPE’s next upward attempt.

PEPE is approaching the first support line within a symmetrical triangle pattern, currently trading at $0.00001088. Analysts report this support level has been tested before and maintained its strength. The Bollinger Bands are tightening, signaling that traders are waiting for a decisive move. Market participants are monitoring both support levels to determine the next possible direction.

Triangle Pattern and Market Structure

According to an analysis prepared by Davie Satoshi, PEPE continues to consolidate within the triangle structure formed earlier in 2025. Support 1 is positioned near the current price action, while support 2 is marked lower at the white line

The chart confirms the symmetrical triangle remains intact, with price oscillating between narrowing resistance and support levels. The stochastic RSI also indicates cycles of overbought and oversold conditions, aligning with PEPE’s repeated upward and downward movements

If the price bounces from support 1, analysts believe momentum could push the token upward in an attempt to break resistance. A sustained bounce would strengthen the structure and keep traders focused on an upside breakout scenario.

Market Sentiment and Breakout Expectations

According to an observation by Gordon, “The breakout on $PEPE will be studied,” reflecting the interest surrounding its consolidation. Market watchers anticipate a strong move once the range is broken, with volatility expected to rise as the Bollinger Bands tighten.

Source: Gordon(X)

If PEPE falls to support 2, the triangle pattern would remain intact but in a different form. Analysts confirm that a break below support 2 would require reassessment of the outlook. However, traders maintain expectations that Bitcoin and Ethereum’s current stability could support PEPE’s next upward attempt.

Charting remains linked to investor emotions of fear and greed, and patterns often repeat under similar conditions. Many traders are waiting for a potential breakout, while anticipation of an alt season remains strong across the broader market.

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