Summary
• Price declined 5.1% over 24 hours, breaking below key 4.03e-06 support on heavy volume.
• Volume spiked 37% during the 19:15–20:30 ET window, coinciding with a sharp selloff.
• Bollinger Band contraction noted at 12:00–14:00 ET, followed by a directional breakout to the downside.
• RSI crossed into oversold territory near 30, suggesting potential near-term buying interest.
• Fibonacci 61.8% retracement level at 3.96e-06 now acts as key dynamic resistance.
Pepe/Tether (PEPEUSDT) opened at 4.03e-06 on 2025-12-22 12:00 ET, reached a high of 4.06e-06, a low of 3.86e-06, and closed at 3.99e-06 on 2025-12-23 12:00 ET. Total volume for the 24-hour window was 1.57e+12, with a notional turnover of approximately $63.76 million.
Structure and Key Levels
Price action over the past 24 hours formed a bearish breakdown pattern, with multiple 5-minute bearish engulfing and long lower shadow candles observed between 19:15–20:45 ET.
A key support level at 4.01e-06 was decisively broken, followed by a test at 3.96e-06, which coincides with the 50-period 5-minute moving average. Daily chart support is now at 3.92e-06, where 61.8% Fibonacci and 200-period MA converge.
Momentum and Volatility
RSI dropped into oversold territory near 30 by 15:00 ET, suggesting a possible short-term bounce. MACD turned negative and crossed below its signal line, confirming bearish momentum. Volatility expanded sharply following a 4-hour contraction from 12:00–16:00 ET. Price remains below the lower Bollinger Band, suggesting elevated downside risk.
Volume and Turnover Analysis
Volume spiked 37% above average between 19:15–20:30 ET, as price fell from 4.02e-06 to 3.92e-06. The highest 5-minute turnover occurred at 19:15 ET, with over $2.4 million traded. Price and turnover moved in alignment during this phase, confirming bearish strength. However, volume dried up after 07:00 ET on 2025-12-23, suggesting a possible pause in aggressive selling.
Forward Outlook and Risk
The immediate focus remains on 3.96e-06 and 3.92e-06 as critical support levels. A bounce near 3.96e-06 with rising volume could signal short-term stabilization. However, a break below 3.92e-06 may accelerate the decline to 3.86e-06. Investors should remain cautious, as liquidity appears thin near key Fibonacci levels, increasing the risk of sharp price swings.
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