Market Overview for Pepe/Tether (PEPEUSDT)

Summary
• PEPEUSDT formed a bearish descending channel on the 5-min chart, with resistance at 5.02e-06 and support at 4.58e-06.
• Momentum slowed through RSI and MACD divergence, hinting at possible overbought exhaustion.
• Bollinger Bands expanded in late ET hours, reflecting rising volatility.
• Volume dropped after 04:45 ET, but price continued lower, suggesting weak conviction.

Pepe/Tether (PEPEUSDT) opened at 4.99e-06 on 2025-12-08 12:00 ET, peaked at 5.02e-06, and closed at 4.57e-06 by 12:00 ET on 2025-12-09. The 24-hour volume reached 50.52 billion, with a notional turnover of approximately $256.6 million.

Structure & Moving Averages

Price action on the 5-min chart shows a bearish bias, forming a descending channel with 5.02e-06 as resistance and 4.58e-06 as a recent support. A 20-period and 50-period moving average on the 5-min chart both slope downward, reinforcing bearish pressure. Daily moving averages (50, 100, 200) remain unconfirmed due to the lack of daily OHLC data.

MACD & RSI

MACD lines flattened in the latter half of the day, indicating weakening bearish momentum. RSI approached oversold territory (30–35) near the 05:15–06:00 ET window, but prices failed to rebound meaningfully. This divergence between momentum and price may signal a potential pause or short-term reversal.

Bollinger Bands

Bollinger Bands expanded significantly after 04:45 ET, with prices trading below the lower band in the 06:15–06:45 ET window, indicating heightened volatility and bearish bias.

Volume & Turnover

Volume remained elevated through 04:45 ET but dropped off after that as prices continued to decline, suggesting reduced conviction in the downward move. Turnover followed a similar pattern, confirming the bearish sentiment but showing signs of waning interest.

Fibonacci Retracements

Fibonacci levels from the high (5.02e-06) to the low (4.57e-06) show key retracement levels at 4.76e-06 (38.2%) and 4.66e-06 (61.8%). Prices approached 4.76e-06 in the late ET hours but failed to hold, suggesting that buyers may still test the 4.66e-06 level in the near term.

Looking ahead, PEPEUSDT may consolidate near 4.6e-06–4.7e-06 in the next 24 hours, with a potential test of 4.56e-06 if bearish momentum continues. Investors should remain cautious for volatility spikes or volume surges that could signal a reversal or continuation.