Market Overview for PEPEJPY – 24-Hour Movement and Technical Setup

• PEPEJPY opened at $0.001396 and reached a high of $0.001438 before closing at $0.001336, reflecting a bearish reversal.
• Price dropped below key support near $0.001415, with bearish momentum accelerating after 15:30 ET.
• Total volume surged to 1.89B on the final candle, signaling heightened selling pressure.
• RSI hit oversold territory near 30, suggesting a potential bounce or consolidation phase.
• Bollinger Bands show recent expansion, confirming increased volatility during the downward move.

PEPEJPY opened at $0.001396 on 2025-10-09 12:00 ET and closed at $0.001336 as of 2025-10-10 12:00 ET, reaching a high of $0.001438 and a low of $0.00132. Total trading volume reached 2.245B, while turnover hit $3.08M over the 24-hour period. The asset experienced a sharp breakdown from key resistance levels, especially after 15:30 ET, with a final massive candle printing a $0.00136 to $0.001336 move.

Structure & Formations

Price action revealed a bearish breakdown from a key resistance cluster near $0.001415 to $0.001431, with a large bearish engulfing candle on the 15-minute chart. A doji formed at $0.001434 on 13:45 ET, indicating indecision before the sharp drop. A major support zone now resides between $0.001395 and $0.001381, which was tested during the decline and could hold in the near term if the trend consolidates.

Moving Averages

On the 15-minute chart, the 20-period and 50-period EMA both crossed below the price in the final hours of the session, reinforcing the bearish momentum. On the daily chart, the 50-period and 100-period EMA lines are diverging, with the 50-period line above the 100-period, indicating a possible continuation of the bearish trend into the next 24 hours.

MACD & RSI

The MACD line crossed below the signal line on 10/10, forming a bearish crossover. RSI closed near 30, signaling oversold conditions, but divergence with price remains to be confirmed. While this could suggest a short-term bounce, the overall momentum remains bearish, particularly if key support levels fail to hold.

Bollinger Bands

Bollinger Bands showed a recent expansion following the sharp move down, with price closing near the lower band on the final 15-minute candle. This suggests heightened volatility and a potential consolidation phase if the price stabilizes near $0.001336–$0.001346. A retest of the upper band would require a significant reversal in sentiment.

Volume & Turnover

Volume was relatively low during the initial sideways action but spiked sharply during the breakdown, especially on the final 15-minute candle. Turnover also saw a surge, confirming the strength of the bearish move. However, a divergence between price and volume near $0.001381–$0.00136 may indicate potential short-term exhaustion if the trend continues.

Fibonacci Retracements

Fibonacci levels on the 15-minute chart show a 61.8% retracement at $0.001375 and 78.6% at $0.001355. Daily retracements from the recent peak near $0.001438 show a 38.2% level at $0.001407, which could act as a short-term resistance. If the current trend continues, the next major support to watch is the 61.8% daily level at $0.001365.

Backtest Hypothesis

A backtest strategy could target long positions on a pullback to the 38.2% Fibonacci level at $0.001407, with a stop just below $0.001395. Alternatively, a short entry could be triggered on a break below the 61.8% daily retracement at $0.001365, targeting $0.00134–$0.00133. Both setups rely on volume confirmation and RSI divergence to filter out false signals, offering a balanced approach to managing risk and reward.