PEPE price breaks daily supply zone, sets the stage for new highs

If you've been following my last PEPE article, you'll recall one thing vividly — I was keenly observing that CHOCH (Change of Character) in the last bearish daily structure.

I stated it plainly: if PEPE breaches that final bearish structure, we're officially pivoting bullish. No ambiguity, no "maybe". Structure performs its function.

And to no one's surprise, precisely that occurred.

PEPE price cleanly penetrated the daily supply zone which we've meticulously highlighted. It's not as if PEPE was aimlessly kicking its feet; it had to do it.

After all, if you're aiming for a new high, you must clear the obstructions. That supply zone required depletion, and it did.

Now, here's the part I find enjoyable: the price didn't simply shoot up indefinitely. It halted, retraced slightly — not excessively, just enough to sweep the substantial liquidity segment directly below the move.

A classic maneuver. I've witnessed this play out countless times: the market constructs a narrative, drawing traders into a chase, and then collects their stops to fuel the subsequent price leg.

Daily Chart Check - What's PEPE Up To?

At present, as I'm composing this, we observe PEPE price bearing down on a daily supply zone.

And for those new to this, supply zones are levels where sell orders tend to cluster — imagine them as heavy ceilings. These are zones where price could pause, stall, or even witness a temporary reversal.

Personally, I wouldn't be surprised to see a short-term reaction from this area. Possibly even a minor pullback — nothing dramatic, just enough to cool things down before PEPE decides on its next move.

Now, let me be completely transparent, as always: we don't get any guarantees in this trading game.

The market could totally disregard the supply, break straight through it, or dither for a week, trapping both bulls and bears. My analysis offers possible scenarios, not certainties. Anyone claiming to "know" exactly what will happen is simply making a guess with extra confidence.

Final Thoughts on PEPE Price Action

This isn't the time to chase; it's the time to observe, wait, and react with patience. If you're a scalper, there may be swift plays around this supply.

If you're a swing trader, perhaps the retrace you've been anticipating is just around the corner. In either case, the game is afoot.

And remember, as I always emphasize: the price can do whatever it pleases.

What I've outlined are potential outcomes, not guaranteed ones. So trade smartly, manage your risk, and don't fall into the FOMO trap. PEPE isn't going anywhere; it's just getting started.

If you have any questions, feel free to ask in the comment section below. Happy trading!