The PEPE price has surged by 2.5% today, bringing it to around $0.000006882. As the weekend approaches, market sentiment remains sluggish. The current market cap stands at approximately $2.88 billion. An analyst with over 26,000 followers on X (@lyx) posted a chart that highlights a significant PEPE breakout. The price action has been confined to a descending channel since late January, and for the first time in 122 days, it has broken above its downtrend line on the 4-hour timeframe. This potential reversal is being observed with technical indicators like increasing volatility near the breakout point as evidenced by longer candle bodies and wicks. Analysts believe this breakout could signal a sustained trend reversal, although further confirmation is needed. What are the key points? *First time in 122 days that $PEPE has broken the bullish trend line on a 4-hour timeframe* *The breakout is significant as it marks a potential turning point for the PEPE price after months of bearish trends.* *Support levels to watch:* *0.0000541: First level of strong support where price bounced before.* *0.0000490: Mid-range support formed by February and March lows.* *0.0000480 – 0.0000449: The critical support zone— a break below would signal new lows ahead.* *The current surge in PEPE price coincides with expectations of a potential last chance to buy the token at a lower price before its market cap reaches $3 billion. If this breakout gains momentum, traders will be watching for a retest of the breakout zone around $0.0000655-$0.000066.* The future direction of PEPE will depend on continued confirmation. A successful retest of the former resistance as support, coupled with increasing volume, would provide solid backing to this trend reversal. *Next resistance levels:* *Around $0.000075 – $0.00008, where previous highs were formed* PEPE’s recent price action marks a hopeful turn after months of bearish trends. The breakout could indicate the beginning of a new bull run or simply a temporary bounce. Only time will tell, but for now, traders are looking forward to this potential shift in market sentiment. *Note:* This content is provided as a general overview and not financial advice. Always consult with qualified professionals before making any investment decisions.*