PEPEUSDT is exhibiting a potential bullish 1-2 setup on the 4-hour chart. The price has recently bounced off a support area between 0.0000034 and 0.0000041, indicating a potential continuation of the upward momentum. If PEPEUSDT holds above this support level and shows further upward consolidation, it could lead to a significant price increase, potentially targeting the 0.0000085 resistance level. A break below 0.000005 would invalidate this bullish structure, suggesting a possible continuation of the downtrend.