Pepe/Tether (PEPEUSDT) Market Overview – 24-Hour Summary as of 2025-11-07

Summary
• Pepe/Tether (PEPEUSDT) surged to a daily high of $0.00000594 on 2025-11-07.
• Price action showed strong bullish momentum with a 38.2% Fibonacci retracement level acting as support.
• Turnover spiked sharply, reaching $397.5 billion, reflecting high market participation and speculative interest.
• RSI crossed into overbought territory, suggesting potential consolidation or pullback ahead.
• Bollinger Bands reflected a wide expansion, indicating increased volatility.

Opening Narrative

Pepe/Tether (PEPEUSDT) opened at $0.00000527 on 2025-11-06 at 12:00 ET, surged to a high of $0.00000601, and closed at $0.00000596 by 12:00 ET on 2025-11-07. The total volume traded was 397.5 billion tokens, while notional turnover reached approximately $2.39 billion. The 24-hour session saw aggressive buying pressure and volatility expansion, as evidenced by candlestick formations and momentum indicators.

Structure & Formations

The 15-minute chart displayed multiple bullish engulfing patterns, particularly between 02:15 ET and 06:30 ET, which signaled a shift in sentiment toward the buyers. A key support zone emerged at $0.0000056, where price found buying interest during pullbacks. Resistance levels are clustering around $0.0000060–$0.0000062. The formation of a bullish flag pattern from 07:00 ET to 11:00 ET indicated continuation of the uptrend.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both sloping upward, with price above both. The 50-period MA is catching up to the 20-period MA, suggesting a potential flattening of the trend or continued acceleration. On a longer timescale, the 50, 100, and 200-day MAs are in a bullish alignment, with PEPEUSDT trading above all three, which reinforces a bullish bias for the near term.

MACD & RSI

The MACD line crossed above the signal line during the early morning hours, signaling a bullish crossover, and remained positive throughout the session. The histogram reflected growing momentum as the uptrend unfolded. RSI pushed above 70 and remained elevated for several hours, suggesting overbought conditions and a high probability of short-term consolidation. Traders may watch for a retest of the 61.8% Fibonacci level at $0.00000577 for potential entry points.

Bollinger Bands

Volatility expanded dramatically during the session, with Bollinger Bands widening to reflect increased price swings. Price remained near the upper band for most of the 24 hours, suggesting strong bullish control. A contraction phase may be needed to consolidate gains before a further breakout could occur. The mid-band at $0.00000586 acts as a pivot for near-term direction.

Volume & Turnover

Volume surged to over 397.5 billion tokens, indicating robust participation in the buying wave. Turnover spiked to $2.39 billion, with no significant divergence between price and volume, which supports the strength of the uptrend. The largest volume spike occurred between 16:30 ET and 17:00 ET, coinciding with a sharp move from $0.00000577 to $0.00000596. This confirms strong accumulation in the latter part of the session.

Fibonacci Retracements

Key Fibonacci levels were tested and respected during the 24-hour period. The 38.2% retracement level at $0.00000577 acted as a strong support during pullbacks, while the 61.8% level at $0.00000592 was briefly touched before a final push higher. On a broader scale, the 61.8% retracement of the recent downtrend aligns with the 20-period MA and could serve as a key target for further upside.

Backtest Hypothesis

The absence of precomputed Bullish Engulfing patterns suggests a need to manually identify the pattern from the OHLC data. A backtest could focus on detecting these patterns and evaluating the performance of a one-day holding strategy starting from 2022-01-01 to 2025-11-07. This would allow for a more granular analysis of the pattern’s predictive accuracy and risk-reward profile on PEPEUSDT, even in the absence of vendor-provided pattern tags.