PEPE Price Drops 2.6% After Rejection at Key Resistance Level - Technical Analysis

Meme cryptocurrency PEPE declined 2.6% over the past 24 hours, trading around $0.0000915 while significantly underperforming the broader crypto market. The CoinDesk 20 index fell just 1.4% during the same period, highlighting PEPE's relative weakness. According to CoinDesk Research technical analysis, PEPE traded between $0.0000913 and $0.0000951, with a brief rally attempt stalling near resistance levels before beginning a gradual decline. The session opened near $0.0000939, reaching an early peak around $0.000095 before consistent selling pressure emerged. Despite the price drop, derivatives market activity showed strength with PEPE futures open interest reaching $560 million and total trading volume climbing to $1.2 billion according to CoinGlass data. PEPE also outperformed the broader memecoin sector, with the CoinDesk Memecoin Index declining 3% over the same period. Market analysts are monitoring whether PEPE can maintain support above $0.000091 or risks falling to lower price ranges. A breakout above $0.000095 could shift market sentiment, though such a move would require stronger volume and improved market conditions. Technical indicators show PEPE's 24-hour trading range spanned approximately 4% between session highs and lows. Sellers consistently appeared near $0.000095, establishing clear resistance. While early session patterns suggested potential bullish accumulation with higher low formations, declining volume toward the close indicates market hesitation rather than conviction.