Market Overview for Pepe/Yen (PEPEJPY): 24-Hour Analysis

• Price dropped from 0.001791 to 0.001652, closing 0.001652 at 12:00 ET.
• Key support at 0.001722–0.001725 tested multiple times, with a breakdown below 0.001725.
• Volatility increased as Bollinger Bands expanded, indicating rising uncertainty.
• RSI signaled oversold conditions near 0.001715–0.001720, but price continued downward.
• High-volume candle at 0.001760–0.001764 failed to sustain the move higher.

Pepe/Yen (PEPEJPY) opened at 0.001791 on 2025-09-13 at 12:00 ET and closed at 0.001652 on 2025-09-14 at 12:00 ET, with a high of 0.001799 and a low of 0.001692. Total volume traded over the 24-hour period was 32,931,930,897.0, and the notional turnover amounted to approximately 57,885,692.0 JPY.

Structure & Formations

The candlestick pattern for PEPEJPY revealed a series of bearish developments throughout the session. A key resistance level formed around 0.001760–0.001764, which failed to hold despite a high-volume candle at that level. A long bearish candle formed at 0.00176–0.001726, signaling strong bear momentum. Subsequent candles showed a bearish engulfing pattern below 0.001725 and a doji near 0.001715–0.001718, hinting at potential short-term indecision.

Support levels emerged at 0.001725 and 0.001715–0.001720, both of which were tested multiple times but ultimately failed. A critical breakdown below 0.001725 confirmed a bearish bias for the near term.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were both above price, reinforcing the bearish trend. The 20 SMA was at ~0.001745 and the 50 SMA at ~0.001750, with price currently at 0.001652. This significant bearish divergence indicates a continuation of the downward trend. On the daily chart, the 50-period, 100-period, and 200-period moving averages were all above current price, further confirming a bearish setup.

MACD & RSI

The MACD was in negative territory throughout the session, with the MACD line and signal line forming bearish crossovers. This suggests weakening bullish momentum. The RSI dropped to the 30s range during the session, briefly reaching oversold levels near 0.001715–0.001720. However, the price continued to decline even after this, indicating a stronger bearish trend rather than a potential rebound. The divergence between RSI and price action suggests the bearish momentum is still intact.

The Stochastic RSI also showed bearish signals, with the %K line below the %D line and both in the lower quadrant of the 0–100 scale.

Bollinger Bands

Bollinger Bands expanded significantly during the session, indicating increased volatility. Price spent most of the time below the 20-period moving average and near the lower band, especially toward the end of the session. This suggests bearish exhaustion and potential for further declines. A contraction in band width was not observed, indicating no signs of range-bound consolidation in the near term.

Volume & Turnover

Volume was consistently high through the session, with several spikes around key price levels. A large-volume candle formed near 0.001760–0.001764 (volume: 4,254,149,256.0), but failed to break higher. Notional turnover increased in tandem with volume, with the highest notional turnover near the session’s low at 0.001712–0.001692. There were no major divergences between price and turnover, suggesting that the bearish move was confirmed rather than misleading.

Fibonacci Retracements

Fibonacci retracement levels were drawn from the high of 0.001799 to the low of 0.001692. Key levels included 38.2% at ~0.001754 and 61.8% at ~0.001725. Price tested the 61.8% level multiple times before breaking below it, confirming the continuation of the bearish trend. The breakdown below 0.001725 suggests a potential target near the 78.6% level or the prior swing low.

Backtest Hypothesis

Based on the observed structure, the market may be entering a bearish consolidation phase. A backtesting strategy could consider a short position on a breakdown below key support at 0.001725, confirmed by a bearish close and a volume spike. Stop-loss could be placed above the 0.001734–0.001740 range, with a take-profit target at the 78.6% Fibonacci level (~0.001703). A trailing stop could be used to lock in gains as price moves lower. This strategy aligns with the observed MACD divergence, bearish engulfing patterns, and the RSI's continued bearish signal.