Market Overview for Pepe/Tether (PEPEUSDT): Bearish Momentum and Volatility Expansion

Summary
• PEPEUSDT saw a 34.8% decline in price and a 25.2% drop in volume over 24 hours.
• Price formed bearish continuation patterns below key support at $6.55e-06.
• RSI and MACD confirmed bearish momentum, with RSI nearing oversold territory.
• Bollinger Bands widened in the latter half of the day, signaling rising volatility.
• Turnover diverged sharply from price, suggesting mixed sentiment and potential accumulation.

Pepe/Tether (PEPEUSDT) opened at $6.76e-06 on 2026-01-07 12:00 ET and closed at $6.22e-06 on 2026-01-08 12:00 ET, with a high of $6.85e-06 and low of $6.02e-06. Total volume reached 7.58e+12 and turnover hit 4.63e+07 over the 24-hour window.

Structure & Formations

Price tested support at $6.55e-06 multiple times, forming a bearish flag pattern following a sharp decline from $6.85e-06 to $6.22e-06. A doji formed near $6.45e-06 on 2026-01-08 07:30 ET, signaling indecision after a strong bearish move.

Moving Averages and Momentum

On the 5-minute chart, price closed below both 20 and 50-period SMAs, reinforcing bearish bias. RSI dipped below 30 on 2026-01-08 14:15 ET, entering oversold territory, while MACD showed bearish divergence in the last 3 hours.

Volatility and Bollinger Bands

Bollinger Bands expanded from 14:45 ET onwards, reflecting increased volatility as price drifted lower. A contraction in the bands between 05:00 and 07:00 ET preceded the sharp drop, suggesting a potential breakout.

Volume and Turnover Divergence

Volume peaked at 5.51e+11 on 2026-01-08 07:45 ET but failed to confirm a strong move, indicating possible accumulation by longs near oversold levels. Turnover also dipped below average after 10:00 ET, despite continued downward pressure.

Falling volatility could limit short-term rebounds, but oversold RSI suggests a near-term pause is possible. Investors should monitor support at $6.02e-06 and watch for signs of divergence in the next 24 hours.