Pepe/Tether (PEPEUSDT) Market Overview

Summary
• Price surged after 18:15 ET with a 6.22e-06 close, reaching a 24-hour high of 6.37e-06.
• Volatility and volume peaked around 21:15 ET before consolidating into a lower range.
• A bearish divergence in RSI and a breakdown below the 20-period MA suggest short-term caution.

Pepe/Tether (PEPEUSDT) opened at 5.91e-06 on 2025-11-07 at 12:00 ET and closed at 6.14e-06 at the same time the next day. The 24-hour high and low were 6.37e-06 and 5.88e-06, respectively, with a total volume of 12,369,332,083,696.0 and a notional turnover of 7,619.25. The pair displayed a distinct rally during the early evening hours, with a sharp decline later in the session.

Structurally, the price found key resistance at 6.37e-06 and support at 5.92e-06 during the session. A bullish engulfing pattern emerged at 18:15 ET, where price opened at 6.12e-06 and closed at 6.22e-06 after reaching a high of 6.24e-06. A bearish harami followed at 23:15 ET, hinting at a reversal in momentum. The 20-period and 50-period moving averages on the 15-minute chart crossed into a bearish alignment toward the end of the session, while the daily 50-period MA held above the 200-period MA, suggesting intermediate-term strength.

The RSI hit an overbought level of 69.5 at 21:15 ET before dropping to 52.3 by 04:00 ET, indicating weakening bullish momentum. MACD showed a narrowing histogram and crossed into negative territory in the early morning, reinforcing bearish sentiment. Bollinger Bands expanded during the peak rally at 21:15 ET, with price reaching the upper band before retracting. Volatility later contracted, signaling a potential consolidation phase.

Fibonacci retracements on the 15-minute chart highlighted key levels at 6.18e-06 (38.2%) and 6.25e-06 (61.8%), both of which saw price test during the session. On the daily chart, a 61.8% retracement level at 6.15e-06 coincided with the close, reinforcing its relevance as a near-term support zone.

Backtest Hypothesis: The Bullish Engulfing pattern at 18:15 ET could be a strong entry point for short-term traders. A backtest would involve identifying historical instances of this pattern in PEPEUSDT and evaluating the performance over the following 2–3 days. If the pattern consistently yielded a 4–6% return in the next 24–48 hours, it could validate a systematic trading approach. However, the recent bearish divergence in RSI and MACD suggests caution—any new entries should be paired with a stop-loss near the 6.10e-06 level.