PEPE is trading 3% lower but maintains crucial support near its long-term Fibonacci trendline as the Federal Open Market Committee (FOMC) meeting approaches. Analysts indicate that a breach below this level could trigger a move towards the upper red resistance zone. The token has consistently adhered to this trendline since its inception, according to on-chain chartist 'The_Wok'. Current price action remains within the 0.236 to 0.382 Fibonacci levels, with reduced volatility suggesting a potential rebound. Traders are closely monitoring for a breakout following the FOMC decision.