PEPE Price Breaks Trendline as 6000 Level Emerges as Key Test Zone
- PEPE has broken the daily trendline support, withthe price now positioned near 0.0000009190 on BloFin.
- Analysts outline 0.0000006000 as the next target zone that could attract fresh buying interest.
- Community reactions show mixed views, with some fearing deep losses and others expecting a rebound.
PEPE has broken down from a major daily trendline, signaling bearish pressure and a possible decline toward the 0.0000006000 support zone. The projection, shared by ChiefraF on X, outlines a potential move lower before a possible recovery bounce.
Breakdown From Daily Trendline
The chart shows PEPE slipping beneath an ascending support line that guided its price since March. This breakdown suggests weakening momentum. Traders noted that the breakdown followed a steady series of lower highs, confirming growing selling pressure within the market.
PEPE is currently trading at 0.0000009190 on BloFin, reflecting a modest intraday gain of 1.35%. Despite this small uptick, the structural shift is drawing attention. Analysts warn that the breach of trendline support could lead to steeper declines in the near term.
The projected move highlights a possible slide toward 0.0000006000. According to the outlined scenario, such a drop could create buying interest at lower levels. This scenario mirrors common technical setups where breakdowns lead to liquidity grabs before reversal attempts.
Analyst Projection and Community Reactions
ChiefraF, who shared the chart, wrote that a dump toward 0.0000006000 could be a “golden opportunity” in his opinion. The post generated thousands of views and sparked discussion among traders, some questioning the extent of the possible decline.
One user asked if PEPE could fall that far before spiking upward again. ChiefraF responded with “Potentially,” leaving open the prospect of a sharp recovery after the drop. This back-and-forth underlined the uncertainty facing traders as they assessed PEPE’s next move.
Community responses reflected mixed emotions. Some described the projection as terrifying for long positions that had been accumulating dips. Others viewed the chart as a natural liquidity grab that could ultimately fuel a strong bounce from deeper support.
As of September 26, the post had over 5,200 views, with dozens of comments and reposts amplifying the analysis further. This engagement demonstrated the market’s sensitivity to technical signals during volatile phases.
Can PEPE Rebound After a 6000 Test?
The pivotal question remains: can PEPE rebound strongly after a potential test of the 0.0000006000 support zone? The chart projection indicates that after sliding lower, PEPE could stabilize and rally back upward. This potential recovery bounce would depend on strong demand emerging at lower levels. Technical traders often monitor these liquidity zones for signs of renewed accumulation.
Price action has already shown the tendency to rebound from steep drops earlier this year. The possibility of repeating this pattern fuels hope among market watchers seeking another upward surge. However, the breakdown from trendline support still marks a significant shift in momentum.
The reaction at 0.0000006000 may determine short-term direction. A sharp bounce could validate the zone as strong support, while a failure could deepen declines further. The market is now watching whether PEPE can form a base at lower levels before attempting to reclaim higher prices.
Market chatter continues to highlight the importance of October’s early sessions for altcoins. If PEPE holds firm near support, confidence could return. For now, traders remain divided between preparing for further losses or anticipating a rebound once downside targets are reached.
