PEPE Price Remains in Downtrend Despite Minor Rebound

The PEPE cryptocurrency has seen a brief surge in price, with its intraday high reaching $0.00000418. However, this minor rebound does not change the overall downtrend in which the token is trading.

The PEPE price chart shows a clear downtrend marked by lower highs and weak relief rallies. Each bounce over recent weeks has failed to convincingly break prior resistance levels, leaving the token below both its 50-day and 200-day exponential moving averages (EMAs).

The daily trading volume remains active at roughly $594 million, but the price has not yet broken above key moving averages. The Relative Strength Index (RSI) is hovering around 44, suggesting mild bearish pressure, while the MACD lines are converging with muted histogram bars, pointing to reduced buying momentum.

A decisive break above the 50-day EMA at $0.00000469 could open the door for a partial recovery. However, until then, the downtrend remains intact and traders should be cautious about taking on too much risk.