Market Overview: Pepe/Tether (PEPEUSDT) – Volatile 24-Hour Session Ends Bearish

• PEPEUSDT posted a bearish close (-0.91%) amid a volatile 24-hour range between $0.00001126 and $0.00001075.
• A key bearish reversal pattern formed near $0.00001122 following strong volume accumulation above this level.
• RSI and MACD diverged near overbought levels, signaling possible momentum exhaustion.
• Volume surged past $253 billion, but price closed below the 20-period MA, hinting at bearish continuation.
• Bollinger Bands expanded in the latter half, indicating increased market uncertainty and potential range expansion.

The Pepe/Tether (PEPEUSDT) pair opened at $0.00001087 on 2025-09-17 at 12:00 ET and closed at $0.00001129 on 2025-09-18 at 12:00 ET. The price peaked at $0.00001126 and dropped to a low of $0.00001075 during the session. Total volume for the 24-hour period reached 69405348990.0, with a notional turnover exceeding $8.0 billion. The pair traded in a choppy range for most of the day but ended with a bearish bias after a sharp reversal from recent highs.

The 15-minute chart shows PEPEUSDT forming a bearish engulfing pattern near $0.00001122, where volume spiked sharply before a pullback. Price action suggests traders may have anticipated a reversal after reaching a strong overhead resistance cluster. A 20-period moving average currently sits above the 50-period line, but both are sloping downward, confirming a broader bearish bias. The 50-period MA on the daily chart has just crossed below the 200-period line, potentially signaling the start of a bearish phase.

MACD lines diverged near the zero line, with the histogram narrowing after a brief positive expansion, suggesting weakening bullish momentum. RSI reached overbought territory near 75 before retreating below 50, indicating a potential reversal point. Bollinger Bands expanded during the latter half of the session, suggesting increased volatility and uncertainty. The price closed near the upper band, which may prompt a retest of key support levels in the near term.

Fibonacci retracement levels for the most recent 15-minute swing show a potential 61.8% retracement at $0.00001096. This level may act as a near-term support. Volume analysis highlights a divergence: while price moved lower, volume remained elevated, reinforcing the bearish case. However, a break below $0.00001096 could trigger further selling pressure toward $0.00001075.

Looking ahead, PEPEUSDT could face immediate pressure if the 20-period MA is breached, with the next major support target around $0.00001090. A breakout above $0.00001126 would signal a potential countertrend rally, but given the RSI divergence and bearish engulfing pattern, a continuation of the downtrend is more likely. Investors should closely monitor the 61.8% Fibonacci level and RSI for signs of oversold conditions before considering short-term bullish entries.