Market Overview for Pepe/Yen (PEPEJPY) on 2025-09-18

• Price surged 15.2% over 24 hours with key resistance at 0.00171 and support at 0.001664
• Strong bullish momentum with RSI above 55 and MACD turning positive
• Volatility expanded mid-day; Bollinger Bands widened 18% after 03:15 ET
• Volume increased steadily, confirming price strength with no divergence
• 15-minute chart formed a bullish engulfing pattern at 03:15 ET, suggesting a continuation

Pepe/Yen (PEPEJPY) opened at 0.001595 on 2025-09-17 at 12:00 ET, reached a high of 0.00171, dipped to a low of 0.001574, and closed at 0.001709 by 12:00 ET the next day. Total 24-hour volume was 121,266,425,000 units, with notional turnover of approximately $209,301,816.

Structure & Formations

The 24-hour period revealed a strong bullish bias with a key support level forming at 0.001664 and resistance emerging at 0.00171. A notable 15-minute bullish engulfing pattern was observed at 03:15 ET, as the asset reversed from a prior bearish trend. The price action displayed a distinct ascending triangle consolidation pattern before breaking out at 03:15, suggesting potential continuation. A doji formed at 07:45 ET, signaling indecision but was quickly followed by a resumption of bullish momentum.

Moving Averages, MACD & RSI

The 20-period and 50-period moving averages on the 15-minute chart crossed positively, indicating bullish momentum. RSI climbed steadily, surpassing 55 and moving toward overbought territory by late morning, which suggests exhaustion may be near. MACD turned positive and showed increasing histogram bars, confirming the strength of the rally. Daily chart 50/100/200 SMAs remained in a bullish configuration, with the 100 SMA acting as a dynamic support line.

Bollinger Bands & Volatility

Volatility expanded significantly during the overnight and early morning hours, with Bollinger Bands widening by approximately 18% from 03:15 to 05:30 ET. Price action remained near the upper band between 03:15 and 05:00 ET, signaling strong bullish pressure. However, during the day, the price drifted closer to the middle band, indicating a potential pause or consolidation.

Volume & Turnover

Volume surged to a peak of 4.32 billion units at 09:30 ET, confirming the strength of the bullish breakout. Turnover also increased in tandem with volume, showing no signs of divergence. The most active buying occurred between 03:15 and 06:00 ET, suggesting strong overnight buyer interest. Despite a pullback in volume later in the day, the overall trend remained bullish with no bearish confirmation.

Fibonacci Retracements

Applying Fibonacci levels to the 03:15–07:45 ET swing, key retracements included 0.001693 (38.2%) and 0.001678 (61.8%). The price tested and rejected 0.001693, bouncing back toward the upper band. On the daily chart, the 61.8% Fibonacci level at 0.001677 served as a support before the breakout. These levels appear to be converging with key moving averages and Bollinger Bands, suggesting a high probability of continued momentum.

Backtest Hypothesis

A potential backtesting strategy could involve a breakout system that triggers a long position when price closes above the upper Bollinger Band on the 15-minute chart and the RSI is above 55, with a stop-loss placed below the 61.8% Fibonacci level. Given the recent price behavior and confirmation by volume and MACD, this setup appears well-aligned with the observed technical conditions. Trailing stops could be considered once the 0.00171 resistance level is tested.