Market Overview for Pepe/Yen (PEPEJPY): Bearish Consolidation with Oversold Signatures

Summary
• Price formed bearish engulfing patterns in late trading hours, suggesting short-term pressure.
• RSI dropped below 30 during the 08:00–10:00 ET window, indicating oversold conditions.
• Volatility expanded significantly in the 09:15–09:45 ET window, with a 46% drop in price from prior highs.
• Turnover surged to $3.5M during the 09:30 ET hour, aligning with a sharp price decline.
• 20-period moving average on the 5-minute chart dipped below key support at 0.001100, signaling bearish momentum.

Market Overview

At 12:00 ET on January 5, 2026, Pepe/Yen (PEPEJPY) opened at 0.001103, reaching a high of 0.001129 and a low of 0.001036 before closing at 0.001066 at 12:00 ET. The 24-hour volume was 10,029,483,541.0 units, with a notional turnover of $1,160,888. The pair displayed a choppy and bearish consolidation trend throughout the day.

Structure and Key Levels

Price action on the 5-minute chart revealed key resistance near 0.001125 and support at 0.001060–0.001065. A bearish engulfing pattern was observed near 0.001101, and a doji formed at 0.001087, suggesting indecision. The most significant selloff occurred after 09:15 ET, where price dropped sharply to a low of 0.001036, with a volume spike of 333 million units.

Momentum and Volatility

RSI fell below 30 during the 08:00–10:00 ET window, hinting at oversold conditions. Bollinger Bands showed a moderate expansion in volatility during the 09:15–09:45 ET hour. MACD turned negative after midday, reinforcing the bearish tilt.

Volume and Turnover

The highest turnover of $3.5 million occurred at 09:30 ET, coinciding with a 46 basis point drop in price. Volume diverged from price during the 10:15–11:00 ET window, with declining volume despite continued downward pressure, suggesting a possible short-term pause in selling momentum.

Fibonacci Retracements

On the 5-minute chart, key retracements were observed at 0.001115 (38.2%) and 0.001100 (61.8%) during the selloff from 0.001129 to 0.001036. Price held above the 61.8% level, suggesting some short-term support.

Pepe/Yen appears to be in a consolidation phase after a sharp intraday decline. While oversold indicators may suggest a potential bounce, the bearish bias remains intact. Investors may watch the 0.001060–0.001065 range for potential support or a break lower. As with any volatile market, sudden news or volume surges could disrupt this pattern.