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The analysis focuses on PEPEUSDT, currently at 0.00000464. It notes that the price is grinding upwards in smaller time frames but is unable to break the 0.236 retracement at 0.00000498. The analysis suggests that as long as PEPE remains below 0.00000498, it is still bearish, indicating a potential move to the downside, with a further downside target around 0.00000294. The major downtrend is sitting on top of the 0.236 retracement, so breaking over 0.00000498 could trigger a rally of approximately 20% to 0.00000573, which is the 0.382 retracement level. If PEPE breaks over 0.00000573, a larger rally could occur. Failure to break 0.00000573 would signal a bearish continuation down to 0.00000294. The analyst suggests that until PEPE is above 0.00000498 or 0.00000573, a fill of the wick down to the 0.00000294 to 0.00000310 range is still possible. Only above 0.00000573 can it be argued that PEPE has bottomed, which could start a bull run. If the price reaches 0.00000400, the analysis is invalidated.