Market Overview for Pepe/Tether (PEPEUSDT) on 2025-11-01

• Price rallied from $6.44e-06 to $6.70e-06 with strong volume in early morning ET
• Bullish momentum confirmed by MACD and RSI divergence from oversold levels
• Volatility surged as Bollinger Bands widened following a consolidation phase
• On-chain volume exceeded 160 billion units, indicating heightened short-term interest
• Price remains above 20/50-period SMAs with key resistance near $6.68e-06

Pepe/Tether (PEPEUSDT) opened at $6.55e-06 on 2025-10-31 12:00 ET, hit a high of $6.70e-06, and closed at $6.68e-06 on 2025-11-01 12:00 ET. Total on-chain volume surpassed 550 billion units, with a notional turnover of over $360 million in the 24-hour window.

The price moved in a clear bullish direction, forming a strong rally from an oversold RSI level. A key breakout above the 20-period and 50-period SMAs occurred, confirming a short-term uptrend. The most recent 15-minute candle closed at $6.68e-06, forming a strong bullish engulfing pattern at the high of the day.

Bollinger Bands reflected a period of low volatility in the early hours, followed by a sharp expansion as volume and price surged. The price has now settled above the upper band, suggesting overbought conditions and potential for a consolidation phase. The 38.2% and 61.8% Fibonacci retracement levels from the recent swing low at $6.44e-06 align with key resistance at $6.65e-06 and $6.69e-06, respectively, which may offer tactical exits or confirmations for traders.

MACD formed a golden cross in the early morning hours, signaling a bullish momentum shift. RSI climbed out of oversold territory and is now approaching overbought levels. The divergence between strong volume and rising price suggests sustained buying pressure, though a pullback toward $6.55e-06–$6.60e-06 could test the strength of the current rally.

Backtest Hypothesis
To evaluate the effectiveness of MACD Golden Cross signals for PEPEUSDT, a simple backtest can be applied using the following rules: Enter long at the close of the Golden Cross candle, exit after 5 days or at the next Death Cross, whichever comes first. Risk control could include a 5% stop-loss and a 10% take-profit to manage exposure. Given the strong recent MACD signal and the alignment of RSI and Bollinger Bands, this strategy could offer valuable insights into short-term momentum trading viability for this asset.