PEPE has broken above a long-term descending trendline, establishing a new support level at $0.059144 after months of consolidation. This technical breakout follows a period of price compression, similar to previous accumulation phases on its daily chart. The token is currently trading at $0.059218, marking a 1.3% decline over the past 24 hours, with a trading range between $0.059144 and $0.059689. The breakout has led to increased trading activity, signaling potential short-term volatility. The recent move has pushed PEPE towards its resistance area near $0.059689, despite a slight retracement. Market participants are closely watching whether the token can maintain its position above the newly established support, as the pattern mirrors previous breakout phases that led to significant volume increases and price advances.