Pepe Price Bearish Continuation PEPEUSDT Perpetual Swap ContractOKX:PEPEUSDT.PThe_Alchemist_Trader_Pepe (PEPE) price action has recently seen a clear rejection from daily resistance, where the 0.618 Fibonacci retracement aligned with the Point of Control (POC), forming a strong confluence zone. This region acted as a key supply area, leading to a decisive shift in momentum. Following the rejection, price experienced an aggressive sell-off, driving it back toward the POC. However, this level has now been lost as support, which is a critical structural development. Losing the POC often signals that price is no longer trading at fair value, increasing the likelihood of continued downside. From a technical perspective, this breakdown opens the probability of a further corrective move, as the market looks to seek lower liquidity zones. The current structure suggests that sellers remain in control, with no immediate signs of strong bullish reversal. As a result, price is likely to continue its bearish trajectory, targeting the untapped lower weekly support, which now becomes the next key area of interest. On the higher timeframe, PEPE remains bearish, with the recent rejection and loss of support reinforcing the continuation of the broader downtrend unless key levels are reclaimed.