Pepe/Yen (PEPEJPY) Market Overview

Summary
• PEPEJPY opened at $0.000871 and closed at $0.000876 within the 24-hour period.
• Price swung between $0.000814 and $0.000878, with increased volume and turnover in the overnight and early morning hours.
• A late surge in buying pressure drove a consolidation above $0.000875, with key resistance potentially forming in that area.

Pepe/Yen (PEPEJPY) opened at $0.000871 on 2025-11-04 at 12:00 ET and closed at $0.000876 on 2025-11-05 at 12:00 ET. The 24-hour high and low were $0.000878 and $0.000814, respectively. Total volume for the period was 12.5 billion units, with a notional turnover of approximately $10.9 million at average exchange rates.

Price action has shown a pattern of increasing volatility and volume in the early hours of the morning (ET), particularly between 01:30 and 06:00 ET, where the price broke out from a consolidation phase. A notable bullish reversal is observed around 05:15 ET with a strong close near the high of $0.000878. The price may be testing key resistance near this level, with potential for a pullback or a breakout. A support level appears to be forming between $0.000842 and $0.000846, which has been tested multiple times during the session.

Structure & Formations

A key support level appears to be forming between $0.000842 and $0.000846, which has been repeatedly tested and held during the 24-hour period. A bullish reversal pattern emerged around 05:15 ET, marked by a candle that closed near its high, suggesting possible accumulation. A notable bearish structure formed earlier in the session around 18:30 ET with a bearish engulfing pattern, indicating short-term pressure. These formations suggest that the market is consolidating and may soon break out in either direction.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are closely aligned, suggesting a lack of clear directional bias at shorter timeframes. On the daily chart, the 50-period moving average has moved above the 100-period, indicating a possible shift in intermediate-term sentiment. The 200-period moving average appears to be acting as a long-term support, with the price hovering slightly above it. This alignment suggests that the market may continue to consolidate or trend higher with a potential break of the 50-period line as a bullish signal.

MACD & RSI

The MACD histogram has shown increasing positive divergence in the morning hours, aligning with the bullish reversal pattern and increased volume. RSI has moved into overbought territory in the final hours of the session, suggesting possible short-term exhaustion. A drop in RSI below 50 could trigger a pullback, while a sustained move above 60 could confirm a breakout. The RSI appears to be lagging the price action, indicating a potential opportunity for early trend-following entries.

Bollinger Bands

Volatility has expanded in the last six hours, with price moving from the lower band to near the upper band. The width of the bands has increased significantly, suggesting heightened uncertainty or speculative activity. The price has spent most of the session within the middle 50% of the bands, with a recent push toward the upper band indicating rising bullish sentiment. A close above the upper band could trigger further buying interest or short-covering, depending on market conditions.

Volume & Turnover

Volume spiked sharply in the early morning (ET), particularly between 01:30 and 06:00 ET, coinciding with the breakout from consolidation. This suggests significant institutional or large-cap capital activity. Notional turnover also increased in line with volume, indicating that price increases were supported by liquidity rather than a divergence. A divergence in volume and price during the afternoon hours suggests a possible waning of buying pressure, but this was followed by renewed strength in the overnight session.

Fibonacci Retracements

Applying Fibonacci retracement levels to the most recent swing from $0.000814 to $0.000878, key levels appear to be at 38.2% ($0.000844), 50% ($0.000846), and 61.8% ($0.000859). The price has held above the 50% level in recent hours, suggesting it may be consolidating before a possible move to the next level. These retracements may serve as both support and resistance depending on the market’s directional bias in the coming hours.

Backtest Hypothesis

A backtesting strategy based on identifying Bullish Engulfing candlestick patterns has been requested, but the underlying data vendor is unable to recognize the PEPEJPY ticker symbol. This prevents the identification of historical entry points for the pattern. To proceed with the backtest, you can either confirm the correct trading symbol for this asset or provide the OHLCV data in a compatible format (e.g., CSV, Excel, or JSON). Once the data is verified, the strategy can be executed by detecting the pattern and entering the trade at the open of the next candle, holding for one trading day, with full performance metrics and visual analysis generated afterward.