PEPE tests support as bearish pennant forms on 4-hour chart
Pepe (PEPE)
Editor:
Eugene Serbin
crypto.news reports that PEPE is holding above $0.000004 as its September rally cools, with price trading near $0.00000433 on September 30. The token faces a bearish short-term setup near $0.0000041, where analyst Crypto With Gopal identified key support and a potential downside target near $0.0000030. Daily technicals show the price above the 20-day Bollinger midpoint of $0.00000402 but below the upper band at $0.00000502.
The 14-day RSI stood at 57.96, indicating weaker momentum than during the recent surge but still above the neutral threshold. On the weekly chart, PEPE remains above the 20-week and 50-week simple moving averages, though the 100-week average sits much higher at $0.00000805. Analyst Moustache noted on September 28 that PEPE broke out of a 2.5-year falling wedge, presenting a bullish longer-term view.
Conversely, Crypto With Gopal labeled the current 4-hour pattern a bearish pennant, suggesting a breakdown could lead to a 31% decline. Liquidation concentrations are visible near $0.00000416 below price and between $0.00000444 and $0.00000452 above it. The SEC’s Division of Corporation Finance previously stated in February 2025 that meme coins generally fall outside federal securities laws. This regulatory context highlights that value is derived mainly from speculation and market demand.
How the market reacted
Whalio's own Binance spot order flow for PEPE, measured when this story was written up on 30 September 2026. Not the outlet's figures.
Whalio data shows PEPE trading at $0.000004260 with a 1-hour buy ratio of 59.7%, indicating strong short-term buying pressure. This 1-hour ratio is significantly higher than the 4-hour ratio of 50.4% and the 24-hour ratio of 50.3%, suggesting that buying intensity is accelerating in the immediate term. The 1-hour volume delta is positive at +$430,313, while the 24-hour cumulative volume delta (CVD) stands at +$2,545,211. These metrics show that buyers are actively absorbing sell pressure, with net buying occurring in 14 of the last 24 hours. The 24-hour spot volume reached $31,210,277 across 89,893 trades, confirming active participation at these levels.
The latest daily buy ratio of 49.3% sits at the 48th percentile of the last 322 days, against a median of 49.4% - ordinary for this coin.
Was that an ordinary day?
The same Binance spot measurements for PEPE, averaged over the days leading up to the story.
Over the preceding week, PEPE experienced a price change of -14.6% with a total volume delta of -$6,825,721. The 7-day average buy ratio was 48.7%, meaning today’s 24-hour ratio of 50.3% represents a slight increase of 1.6 points. However, the current 24-hour volume of $31,210,277 is only 0.56x the weekly average, indicating lower activity than usual. Only 2 of the last 7 days saw net buying, contrasting with the 14 days of net buying recorded in the last 24 hours. This suggests that while short-term momentum has shifted positive, the broader weekly trend remains cautious and volume-depleted.