Market Overview for Pepe/Tether (PEPEUSDT) – 24-Hour Summary as of 2025-11-09

Summary• Price action shows a choppy 24-hour range between $5.86e-06 and $6.15e-06.• High volatility observed after 23:00 ET with sharp retracements into the early hours.• RSI overbought above 70 during the late session, indicating potential bearish pressure.• Volume spiked during key resistance breaks and consolidation periods.• Bollinger Bands widened sharply, reflecting increased market uncertainty.

The Pepe/Tether (PEPEUSDT) pair opened at $6.01e-06 on 2025-11-08 at 12:00 ET and closed at $6.01e-06 by 12:00 ET on 2025-11-09. The 24-hour high reached $6.15e-06, while the low dropped to $5.86e-06. Total trading volume amounted to 1.0578636543210987e+15 tokens, with a notional turnover of approximately $6.356 billion.

Structure & Formations

Price action formed a bearish engulfing pattern around 02:45 ET as the candle closed at $5.92e-06 after an open of $5.99e-06, suggesting a potential reversal from an upward trend. A doji appeared at $6.04e-06 around 01:45 ET, signaling indecision. Key resistance levels are at $6.07e-06 and $6.13e-06, while support sits at $6.02e-06 and $5.98e-06.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA, forming a bearish crossover. On the daily chart, the 50-period MA is slowly catching up to the 200-period MA, suggesting a potential shift in the intermediate-term trend. The 100-period MA remains above the 50-period MA, but the slope of the 100-period MA has flattened, indicating a possible pullback.

MACD & RSI

MACD lines showed a bearish crossover around 16:00 ET, aligning with a sharp decline in price. The RSI peaked above 70 at $6.15e-06 during the late session, suggesting overbought conditions. RSI then declined rapidly, confirming bearish momentum. This overbought level may trigger short-term profit-taking or a reversal.

Bollinger Bands

Bollinger Bands expanded sharply between 22:30 ET and 03:30 ET, indicating heightened volatility. Price traded near the upper band during the peak at $6.15e-06 and tested the lower band at $5.86e-06. The current price is approaching the mid-band, suggesting a possible consolidation phase after the volatile 24-hour period.

Volume & Turnover

Volume spiked at $6.13e-06, with a 15-minute volume of 3.12271580618e+11 tokens. This suggests strong selling pressure at that level. Turnover exceeded $1.08 billion during the peak sell-off at 02:45 ET. Divergence between price and volume occurred after 06:00 ET, with price moving higher while volume declined, suggesting weakening bullish momentum.

Fibonacci Retracements

Fibonacci levels from the swing high at $6.15e-06 and low at $5.86e-06 indicate key support at 61.8% ($5.98e-06), which was briefly tested. The 38.2% level at $6.05e-06 acted as a minor resistance during the late afternoon. A breakdown below $5.98e-06 could target the next 23.6% level at $6.00e-06.

Backtest Hypothesis

To evaluate a potential trading strategy, we propose using RSI(14) as an overbought trigger (crossover above 70) and a fixed price target of $5.98e-06 for exits. Given the recent overbought readings at $6.15e-06 and the bearish momentum confirmed by RSI divergence and MACD crossover, this setup could offer a high-probability trade. Positions would close when price hits the target or after a 90-day holding period. Binance OHLCV data will be used to test this hypothesis, using a 100% equity-per-trade approach.