Market Overview for Pepe/Tether (PEPEUSDT) – 24-Hour Analysis (2025-09-19)

• Pepe/Tether declines by ~9.5% on 24-hour data, closing at 1.084e-05 amid bearish momentum.
• Volume increased moderately, but turnover growth was uneven during late hours.
• A bearish engulfing pattern formed after midday, with RSI signaling oversold territory.
• Bollinger Bands showed tightening volatility pre-break, then widened as price drifted lower.
• Fibonacci levels highlight key support at 1.082e-05 and 1.072e-05, with resistance near 1.105e-05.

24-Hour Summary

Pepe/Tether (PEPEUSDT) opened at 1.15e-05 on 2025-09-18 at 12:00 ET and closed at 1.084e-05 on 2025-09-19 at 12:00 ET. The pair traded between 1.164e-05 (high) and 1.072e-05 (low). Total volume reached 6.839e+12, while notional turnover stood at ~$711.5 million. The price action shows a bearish bias with no immediate signs of reversal.

Structure & Formations

Price action over the last 24 hours revealed a bearish bias with a key bearish engulfing pattern forming after 19:00 ET on 2025-09-18. This pattern, combined with a declining RSI below 30, signaled growing bearish pressure. Notable support levels formed at 1.082e-05, 1.072e-05, and 1.06e-05, with resistance levels at 1.105e-05 and 1.12e-05. A morning reversal candle failed to hold above 1.14e-05, reinforcing the downward trend.

15-Minute Moving Averages

Short-term momentum, as captured by the 20 and 50-period moving averages on the 15-min chart, remained bearish, with price staying below both. The 50-period MA crossed below the 20-period MA (death cross), a bearish confirmation. On the daily chart, price remains below the 50 and 200-period MAs, reinforcing the downtrend.

MACD & RSI

The 15-minute MACD remained bearish with both the line and signal below zero, showing no signs of bullish momentum. The histogram showed declining bearish momentum after midday, aligning with a minor bounce. The RSI bottomed near 30, suggesting the pair may be approaching an oversold condition, but divergence between price and RSI suggests caution.

Bollinger Bands

Bollinger Bands displayed a tightening range before 18:00 ET, followed by a sharp expansion as price broke lower. Price closed near the lower band, indicating bearish pressure. The contraction before expansion could be a setup for a short-term reversal, but confirmation is pending.

Volume & Turnover

Volume increased moderately during the morning and late afternoon, with the most notable spike occurring around 19:00 ET. However, the price failed to hold above 1.14e-05 after this volume spike, suggesting bearish dominance. Notional turnover showed uneven growth, with lower turnover during the afternoon despite active volume.

Fibonacci Retracements

Applying Fibonacci levels to the recent high at 1.164e-05 and low at 1.072e-05, key support levels are at 38.2% (1.136e-05), 50% (1.118e-05), and 61.8% (1.100e-05). Price appears to have rejected at 1.105e-05 and is testing the 61.8% level. A breakdown below 1.082e-05 may trigger a test of the 78.6% retracement at ~1.072e-05.

Backtest Hypothesis

The identified bearish engulfing pattern, coupled with RSI entering oversold territory and price testing key Fibonacci levels, suggests a potential short-term bounce. However, the overall trend remains bearish, with a key support at 1.082e-05 expected to be tested in the next 24 hours. If this level holds, a pullback toward 1.100e-05 could occur. Traders should monitor for a breakdown below 1.082e-05, which could confirm a deeper bearish phase.