Pepe/Tether Market Overview (PEPEUSDT): 24-Hour Analysis as of 2025-10-08

• Price declines from $9.64e-06 to $9.34e-06 with bearish momentum, capped by strong resistance at $9.6e-06.
• Volatility expands during the 24-hour period, with RSI signaling oversold conditions near 30.
• Bollinger Bands widen as price nears the lower band, indicating potential for a rebound.
• Notable volume spikes seen during late ET hours, confirming downward trend continuation.
• Key Fibonacci support identified at $9.34e-06, with potential for short-term consolidation or reversal.

Market Summary

Pepe/Tether (PEPEUSDT) opened at $9.63e-06 on 2025-10-07 12:00 ET, reaching a high of $9.7e-06 and a low of $9.23e-06 before closing at $9.34e-06 on 2025-10-08 12:00 ET. Total volume for the 24-hour period was 2,558,753,452,390.0, with a notional turnover of $23,666,308.50. Price action has shown a clear bearish bias with increasing bearish momentum.

Structure & Formations

Price has been pressured downward from a key resistance zone near $9.6e-06, where multiple 15-minute candles showed bearish engulfing patterns and failed bullish attempts. A series of lower highs and lower lows have formed a descending trendline, suggesting continued bearish control. A significant bearish reversal is visible around $9.5e-06, with the price failing to reclaim that level despite minor bounces.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs are both trending downward, reinforcing the bearish bias. Price is trading below both indicators, and the 20 SMA is below the 50 SMA, indicating a bearish crossover. On the daily chart, the 50-period, 100-period, and 200-period SMAs are aligned in a downtrend, with price remaining below the 200 SMA, suggesting medium-term bearish continuation.

MACD & RSI

MACD remains bearish, with both the line and signal line in negative territory, and the histogram showing increasing bearish momentum. RSI has entered the oversold region near 30, suggesting short-term potential for a bounce. However, bearish divergence is present—RSI failing to make higher lows while price makes lower lows—signaling continued selling pressure.

Bollinger Bands

Volatility has expanded over the past 24 hours, with the Bollinger Bands widening significantly. Price has tested the lower band multiple times, particularly during the late ET hours, indicating potential for a rebound. The band contraction earlier in the period failed to trigger a reversal, suggesting traders are waiting for a key break below recent support levels.

Volume & Turnover

Volume has surged during the downward phases, particularly in the early morning and midday ET hours, confirming the bearish trend. Turnover has also increased, with notable spikes during the $9.5e-06 and $9.4e-06 consolidation periods. Price and turnover are aligned in the bearish direction, with no significant divergences observed.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from $9.7e-06 to $9.23e-06, the 38.2% and 61.8% levels correspond to $9.48e-06 and $9.34e-06, respectively. Price has found support near the 61.8% level, suggesting a potential short-term bounce or consolidation phase before further bearish action may resume. Daily-level retracements also highlight key support levels near $9.3e-06 and $9.2e-06.

Backtest Hypothesis

Given the current bearish structure and the alignment of technical indicators, a potential backtest strategy could involve shorting at key Fibonacci levels ($9.34e-06, $9.2e-06) with a stop-loss above the most recent higher high at $9.4e-06. Targets could be set at 38.2% and 50% retracement levels of the daily swing, with a time horizon of 1–3 days. This approach would aim to capitalize on the continuation of the bearish momentum, while managing risk through tight stop-loss placement and trailing stops as price moves in the expected direction.