PEPEJPY Consolidates Near Key Fibonacci After Bearish Break

Summary
• Price action shows a bearish shift after forming a bearish engulfing pattern near the session high.
• Volatility surged in the early hours but has since compressed, signaling a potential consolidation phase.
• RSI indicates moderate oversold levels while volume remains elevated, suggesting lingering buying pressure.

Pepe/Yen (PEPEJPY) opened at 0.000614 and traded between 0.000590 and 0.000629 before closing at 0.000593 at 12:00 ET. Total volume reached 12.03 billion units, with a notional turnover of 7.36 million.

Structure & Moving Averages

Price broke a key resistance near 0.000623 and has since found temporary support around 0.000593. The 50-period 5-min MA crossed below the 20-period MA, indicating a bearish bias in the short term. Daily 100/200 MAs suggest a longer-term downtrend remains intact.

Momentum and Volatility

RSI briefly hit oversold territory in the final hours, while MACD turned negative with a bearish crossover, reinforcing weakening momentum. Volatility, as measured by Bollinger Bands, has recently narrowed, suggesting potential for a breakout or continuation lower.

Volume and Fibonacci

Volume spiked sharply during the 17:45–19:30 ET window but has since declined, indicating reduced conviction in the downward move. Price appears to be consolidating near the 61.8% Fibonacci level of the recent upswing, offering a key watchpoint for potential reversal.

Market participants may watch for a break below 0.000590 as the next test of directional bias. Investors should remain cautious of sudden liquidity shifts or news-driven volatility in the next 24 hours.