Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Pepe (PEPE) Testing Crucial Support Post-Breakdown — Can a Retest Move Halt the Downtrend?

Pepe (PEPE) Testing Crucial Support Post-Breakdown — Can a Retest Move Halt the Downtrend?

CoinsProbeCoinsProbe2025/11/22 11:18
By:Nilesh Hembade

Date: Sat, Nov 22, 2025 | 10:15 AM GMT

The cryptocurrency market continues to face heavy selling pressure as both Bitcoin (BTC) and Ethereum (ETH) plunged over 23% and 29% in the past 30 days. The correction triggered a sharp selloff in major memecoins, and Pepe (PEPE) has taken a heavy hit as sentiment remains weak.

PEPE has dropped nearly 41% after confirming a significant breakdown, pushing it into a decisive support region that could determine its next major price direction.

Pepe (PEPE) Testing Crucial Support Post-Breakdown — Can a Retest Move Halt the Downtrend? image 0 Source: Coinmarketcap

Head and Shoulders Breakdown Signals Trend Shift

On the weekly timeframe, PEPE had been forming a classic head and shoulders pattern — widely recognized as one of the strongest bearish reversal structures. The left shoulder, head, and right shoulder formation became clear, with the peak around $0.00001632 in May marking the top of the cycle. Once the right shoulder attempt failed to break higher, momentum began fading rapidly.

The neckline of the structure was located near $0.0000059, a level that served as a multi-week base. The chart confirms that PEPE broke below this neckline with strong bearish volume, officially triggering a downside breakdown. After losing this critical area, the price slid further, reaching the key weekly support range between $0.00000389 and $0.0000042 — the zone now holding the line between stabilization and deeper capitulation.

Pepe (PEPE) Testing Crucial Support Post-Breakdown — Can a Retest Move Halt the Downtrend? image 1 Pepe (PEPE) Weekly Chart/Coinsprobe (Source: Tradingview)

This zone represents the final major historical support visible on the weekly chart, making it extremely significant for buyers to defend.

What Comes Next for PEPE?

The market now awaits the reaction within this support band. A temporary relief bounce is possible if buyers step in aggressively and attempt a retest move toward the breakdown zone around $0.0000059. Such a move from the current price would represent an upside of nearly 48%, potentially pausing the ongoing downtrend.

However, if the current support fails and PEPE prints a weekly close below $0.00000389, bearish continuation becomes the dominant scenario. Breaking below this level would remove structural support from the chart and could trigger a cascading selloff, deepening the decline.

For now, the retest zone and weekly candle close hold the key to PEPE’s directional clarity.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Chainlink's cross-chain bridges drive a $35 billion boom in tokenized finance

- Grayscale files to convert its $29M Chainlink Trust into a staking-enabled ETF (GLNK), positioning LINK as crypto infrastructure. - Chainlink's CCIP bridges traditional finance and blockchain via cross-chain interoperability, recently collaborating with J.P. Morgan and Ondo Finance. - The tokenized assets market is projected to grow to $35B, with Chainlink addressing compliance and data transfer challenges in decentralized finance. - Strategic integrations with S&P Global and Bittensor's AI networks high

Bitget-RWA2025/11/23 00:10
Chainlink's cross-chain bridges drive a $35 billion boom in tokenized finance

Bitcoin Updates: Trump Urges Rate Cuts While Fed Remains Cautious—Bitcoin Drops Into Bear Market

- Trump pressures Fed for aggressive rate cuts, joking about firing Bessent if rates remain high, risking policy instability. - Bitcoin enters "most bearish" phase with Bull Score at 20/100, price below $102,600 as institutional demand wanes. - Fed chair replacement process nears conclusion, with potential impacts on crypto markets and global capital flows. - India debates stablecoin regulation while Leverage Shares plans 3x crypto ETFs, reflecting volatile market dynamics. - Bitcoin's $200,000 trajectory

Bitget-RWA2025/11/22 23:52
Bitcoin Updates: Trump Urges Rate Cuts While Fed Remains Cautious—Bitcoin Drops Into Bear Market

Fed's Change in Liquidity Fuels Debate: AI Breakthrough or Speculative Frenzy?

- The Fed's halt of QT by December 1, 2025, risks injecting trillions into AI markets, reigniting speculative concerns amid record $57B Nvidia quarterly revenue. - AI infrastructure spending surges with FEDGPU's GPU clusters and Gartner projecting $2 trillion global AI spending by 2026. - Skeptics warn of debt-driven overinvestment, citing Meta/Oracle stock declines and unproven economic returns despite "depth and breadth" of AI innovation claims. - Historical parallels to the dot-com bubble emerge as anal

Bitget-RWA2025/11/22 23:52
Fed's Change in Liquidity Fuels Debate: AI Breakthrough or Speculative Frenzy?

XRP News Today: Grayscale’s Altcoin ETFs Transform Market Liquidity, Connecting Digital Assets with Conventional Finance

- NYSE approves Grayscale's XRP and Dogecoin ETFs for Nov 24 trading, expanding regulated crypto access in the U.S. - ETFs convert private trusts to public structures under SEC's post-shutdown regulatory clarity, targeting major altcoins. - Products charge 0.35% fees with direct asset holdings, attracting $12.7B XRP and $7.2B Dogecoin derivatives pre-launch. - Competitors like Bitwise and Franklin Templeton also launch XRP ETFs, signaling growing institutional confidence amid Bitcoin outflows. - Regulatory

Bitget-RWA2025/11/22 23:52
XRP News Today: Grayscale’s Altcoin ETFs Transform Market Liquidity, Connecting Digital Assets with Conventional Finance