Market Overview: Pepe/Tether (PEPEUSDT) — Bullish Consolidation Amid Strong Volume

Summary
• Price rallied from $4.34 to $4.68 amid heavy volume in late session, forming bullish engulfing patterns.
• RSI and MACD show strong upward momentum, suggesting potential overbought conditions near 4.65.
• Volatility expanded with Bollinger Bands widening, signaling increased directional bias.
• Turnover surged to $390.55M during the final 90 minutes, confirming strength in price action.
• Key support at $4.50 held during pullbacks, reinforcing short-term bullish sentiment.

24-Hour Performance

Pepe/Tether (PEPEUSDT) opened at $4.38 on 2025-12-07 12:00 ET and closed at $4.66 by 12:00 ET on 2025-12-08, reaching a high of $4.68 and a low of $4.34. Total volume reached 2.3588e+12, while notional turnover hit $1.0914 billion, reflecting a surge in participation during the final hours.

Structure and Momentum

The 24-hour OHLCV data reveals a sharp rally after 20:30 ET, with PEPEUSDT forming multiple bullish engulfing patterns on the 5-minute chart. A significant breakout occurred at $4.57, which acted as a key resistance-turned-support level, confirming a shift in sentiment. RSI crossed into overbought territory above 70 during the final 2 hours, while MACD showed a strong positive divergence, suggesting sustained momentum but potential for consolidation.

Volatility and Fibonacci Levels

Bollinger Bands expanded throughout the session, with price closing near the upper band, a sign of strong directional bias. The $4.68 high aligns with the 61.8% Fibonacci retracement level of the prior 5-minute swing, reinforcing the significance of this move.

Volume and Turnover

Volume spiked sharply in the last 120 minutes, with over $290 million in turnover during that window. This confirms the legitimacy of the recent price move. However, a minor divergence appeared between the final candle’s volume and price, suggesting caution as price approaches $4.70.

Pepe/Tether appears poised for a potential test of $4.70 in the next 24 hours, but overbought conditions and divergences could invite a corrective pullback. Investors should monitor support at $4.50 and watch for signs of distribution in the coming session.