Market Overview for Pepe/Yen (PEPEJPY) on 2025-09-24

• • •
• PEPEJPY fell 0.68% over 24 hours, closing at 0.001445 after a sharp early morning rebound.
• Morning volatility saw a 0.88% high-low range, with late-day consolidation near key support.
• Volume surged overnight, peaking at 999M contracts around 03:00 ET, but failed to push price higher.
• RSI hit oversold territory in the early hours but failed to trigger strong rebound momentum.
• Bollinger Bands narrowed in the afternoon, signaling potential for a breakout or breakdown.

Pepe/Yen (PEPEJPY) opened at 0.001442 on 2025-09-23 at 12:00 ET, touched a high of 0.001457 during the session, and closed at 0.001445 as of 12:00 ET on 2025-09-24. The pair traded within a 0.68% range over 24 hours. Total volume reached 9.48B contracts, and notional turnover was approximately $13.7M.

Structure & Formations

Price action formed a bearish engulfing pattern on the 15-minute chart at 18:15 ET, followed by a sharp bearish trend until 03:30 ET. A bullish reversal pattern emerged around 05:00 ET, and price recovered to test the 0.001452 level, a prior resistance. A potential support zone appears near 0.001418–0.001425, where price has consolidated multiple times.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart remain bearish, with price below both. On the daily chart, the 50-day MA sits at 0.001435, and the 200-day MA at 0.001431. Price closed above the 50-day MA but remains well below the 200-day MA, suggesting short-term bearish momentum.

MACD & RSI

The MACD crossed below the signal line during the morning hours, reinforcing bearish momentum. RSI hit oversold territory at 28.3 on the 03:00 ET candle, but failed to spark a strong rally. RSI has since moved into neutral territory, at 49.6 as of 12:00 ET, indicating a potential for consolidation or a new directional move.

Bollinger Bands

Volatility expanded overnight with a wide band range, contracting again in the afternoon to signal a potential breakout or breakdown. As of 12:00 ET, price traded near the upper band at 0.001447, suggesting overbought conditions. A break above or below the bands could drive a new trend.

Volume & Turnover

Volume peaked at 999M contracts around 03:00 ET, coinciding with a 0.5% decline in price. Despite high liquidity, price failed to form a meaningful reversal. Turnover also increased sharply in the early morning, but the morning rally failed to confirm with follow-through volume. A divergence between price and volume in the 03:30–05:30 ET period suggests weak conviction.

Fibonacci Retracements

The 15-minute chart shows PEPEJPY testing the 61.8% Fibonacci level (0.001429) after a sharp drop from 0.001457. On the daily chart, the 38.2% and 61.8% retracement levels sit at 0.001442 and 0.001437, respectively. Price appears to have found temporary support at the 61.8% level.

Backtest Hypothesis

A potential backtesting strategy involves entering a short position on a close below the 20-period MA with RSI above 30, and exiting on a close above the 50-period MA or on RSI hitting oversold territory. This approach aligns with the bearish engulfing and distribution patterns seen earlier in the day. A stop-loss near 0.001457 and a take-profit near 0.001415 could encapsulate the morning–afternoon trend. The high volume during the 03:00–05:00 ET period suggests a potential breakout opportunity if price can retest that level.