Date: Fri, Aug 29, 2025 | 06:50 PM GMT
The cryptocurrency market is undergoing another round of volatility as Ethereum (ETH) slipped under $4,300 from its 24-hour high of $4,573, marking a 4% daily drop. This weakness has rippled into the major memecoins, with Pepe (PEPE) sliding 5% today and extending its weekly losses to 16%.
With the sharp decline, the chart is flashing an emerging harmonic setup that suggests PEPE may see further downside before staging a potential rebound.
Bearish Cypher Pattern in Play?
On the daily chart, PEPE appears to be forming a Bearish Cypher harmonic pattern. While its name implies bearish pressure, this structure typically involves a bullish rally in the CD leg once the final pivot (Point C) is confirmed.
The setup began at Point X near $0.00001475, dropped to Point A, rebounded toward Point B, and has since broken lower, slipping under the 200-day moving average (200 MA). Currently, PEPE is trading near $0.0000095, with sellers still in control.
From here, the token could drift lower toward the $0.0000089 zone, where Point C might take shape. If confirmed, this would set the stage for a potential recovery leg higher.
What’s Next for PEPE?
If buyers defend the $0.0000089 support area, a rebound reclaiming the 200-day MA ($0.000010) could signal a reversal. In that case, PEPE may target the $0.00001370–$0.00001475 zone, aligning with the 0.786 and 1.0 Fibonacci extensions—representing nearly a 50% upside from current levels.
However, confirmation at Point C remains critical. A failure to hold above $0.0000089 could invalidate the setup and extend bearish pressure further.
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