Market Overview for Pepe/Tether (PEPEUSDT) on 2025-11-04

Summary
• PEPEUSDT opened at $0.00000582 and traded between $0.00000549 and $0.00000597.
• Price closed slightly lower at $0.00000576 amid bearish momentum and overbought divergence.
• Volume and turnover surged in the early session before cooling, signaling consolidation.

Opening Narrative

Pepe/Tether (PEPEUSDT) began the 24-hour period at $0.00000582 and reached a high of $0.00000597 before closing at $0.00000576. The pair traded as low as $0.00000549, with a total volume of 5.82×10¹⁸ and a turnover of 3.48×10⁶. These figures highlight increased liquidity and bearish pressure in the session's second half.

Structure & Formations

The 15-minute chart showed a series of bearish consolidation patterns, including multiple bearish engulfing and shooting star candles. Key support levels were identified at $0.00000569 and $0.00000553, while resistance emerged at $0.00000576 and $0.00000583. A notable breakdown from the $0.00000578–$0.00000583 range signaled increased bearish sentiment.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages intersected in a bearish crossover, suggesting downward momentum. The 200-period daily MA, however, remained neutral, indicating medium-term uncertainty. Traders should monitor crossovers for directional clarity.

MACD & RSI

The MACD line turned negative and remained below the signal line, confirming bearish momentum. RSI dipped into oversold territory twice, at $0.00000553 and $0.00000564, but failed to trigger meaningful bounces, suggesting weak bullish conviction. Divergence between RSI and price action indicates potential for a retest of support.

Bollinger Bands

Volatility expanded during the session, with price testing the lower band at $0.00000549 before retracting. This suggests a short-term mean reversion could be in play, but traders should watch for another breakdown attempt below $0.00000569.

Volume & Turnover

Volume spiked to over $5.8×10¹¹ at 03:30 ET as the price moved lower. Turnover followed a similar pattern, with a peak around 05:45 ET. However, volume waned as the price neared support levels, indicating a potential end to the current leg down.

Fibonacci Retracements

Fibonacci retracements highlighted 38.2% at $0.00000574 and 61.8% at $0.00000561. The price stalled near the 61.8% level, reinforcing its significance as a potential pivot point.

Backtest Hypothesis

A bearish breakout strategy could be tested using the identified support levels and candlestick patterns. A sell entry could be triggered on a close below $0.00000569, with a stop-loss above $0.00000576 and a target near $0.00000553. Incorporating RSI divergence and volume confirmation would improve the signal-to-noise ratio. Given the recent bearish divergence and breakdown, this approach aligns well with the observed price action.