Market Overview for Pepe/Tether (PEPEUSDT) – 24-Hour Analysis (2025-09-24)

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• PEPE/USDT fell to a 24-hour low of $0.00000956 before rebounding toward $0.00000976, showing intraday volatility.
• A bearish breakdown attempt from $0.00000972 failed, with a late rally indicating short-term resilience.
• Volatility surged after 19:00 ET, with volume peaking at $209.4B in the 16:45–17:00 ET window.
• RSI dropped below 30 in the early hours, hinting at oversold conditions before a late recovery.
• Bollinger Bands expanded significantly after 19:00 ET, signaling rising market uncertainty.

Price Action and Market Behavior

Pepe/Tether (PEPEUSDT) opened at $0.00000972 (12:00 ET-1), reached a high of $0.00000984 and a low of $0.00000939, closing at $0.00000970 (12:00 ET). Total volume for the 24-hour window was 4.97 trillion tokens, with a notional turnover of $48.16 billion. Price action showed a sharp decline in the late ET hours, followed by a consolidation phase. The formation of bearish engulfing patterns between 17:30 and 19:00 ET suggested short-term selling pressure, countered by a late rally.

Key Levels and Patterns

A clear support zone developed around $0.00000956–$0.00000960, where the price found refuge after a sharp drop in the evening. Resistance remains at $0.00000972–$0.00000975, where the price struggled to break out. A bearish engulfing pattern was observed between 17:30 and 17:45 ET, which could signal a short-term reversal. A long lower shadow at the 23:00–23:15 ET candle indicated rejection at that level.

Technical Indicators

The 20-period and 50-period moving averages on the 15-minute chart crossed in a bearish alignment, suggesting short-term downward momentum. RSI dropped below 30 in the early hours, indicating oversold conditions, but failed to hold above 50 later in the session. MACD turned negative after 18:00 ET, reflecting waning bullish momentum. Bollinger Bands expanded significantly after 19:00 ET, signaling a rise in volatility.

Volume and Turnover

Volume spiked during the 16:45–17:00 ET and 23:30–23:45 ET windows, reaching $209.4B and $33.8B respectively. Notional turnover mirrored this pattern, peaking at $2.0B in the 16:45–17:00 ET period. The divergence between volume and price movement in the late hours—where volume increased despite a limited price drop—suggests potential accumulation or distribution activity.

Fibonacci Retracements

Applying Fibonacci retracement to the late-day decline from $0.00000972 to $0.00000956, the 38.2% level at $0.00000963 and 61.8% at $0.00000960 were both significant. Price tested the 61.8% level twice, with the first rejection stronger than the second. These levels appear to be key in determining the short-term direction of the pair.

Backtest Hypothesis

The described backtesting strategy focuses on short-term mean reversion using RSI and Bollinger Bands. It enters a long position when RSI falls below 30 and the price closes near the lower Bollinger Band, with a stop-loss set at the previous 15-minute low. A profit target is placed at the nearest Fibonacci retracement level. Based on today’s data, such a strategy would have triggered a long entry at $0.00000956 in the early morning hours, with a stop below $0.00000954 and a target near $0.00000963. The trade would have closed with a modest gain as the price rebounded in the late hours. This suggests the strategy could work in volatile, low-volume conditions, but may struggle in fast-moving breakouts or during high-liquidity events.