Market Overview: PEOPLEUSDT Eyes 0.00960 as Momentum Gathers

Summary
• PEOPLEUSDT formed key support near 0.00927 and tested resistance above 0.00950.
• Momentum dipped mid-day but rebounded sharply with a bullish breakout above 0.00950.
• Volume surged by 12x during the 16:30–17:00 ET window, confirming strength near 0.00960.
• RSI reached overbought territory near 0.00960, suggesting potential for a pullback.
• Price traded above the 50-period moving average, signaling short-term bullish bias.

ConstitutionDAO/Tether (PEOPLEUSDT) opened at 0.00949 on 2025-12-21 12:00 ET, hit a high of 0.00967, and a low of 0.00914, closing at 0.00960 on 2025-12-22 12:00 ET. Total volume reached 140,458,300.9 units with a notional turnover of $1,317,992.

Structure & Formations

The pair found solid support at 0.00927 after a sharp decline in the early hours, forming a bullish reversal pattern. A key breakout above the 0.00950 resistance occurred during the 15:00–16:00 ET period, confirmed by increasing volume and a long bullish candle.

Moving Averages

On the 5-minute chart, the price closed above the 20- and 50-period moving averages, reinforcing the bullish bias. The 50-period line provided a dynamic support level around 0.00935–0.00940, which held multiple times during the session.

MACD & RSI

MACD turned positive in the final 4 hours, indicating strengthening bullish momentum. The RSI surged to 76, suggesting the pair may face near-term resistance at 0.00960–0.00965. A pullback could target 0.00950–0.00955 for retesting.

Bollinger Bands

Volatility expanded during the 16:00–17:00 ET window as the price broke above the upper Bollinger band. The move suggests a potential continuation, though consolidation near the 0.00960–0.00964 range may be necessary before a sustained move higher.

Volume & Turnover

Volume spiked above 2.3 million during the 16:30–17:00 ET period, confirming strength at 0.00960–0.00967. Turnover expanded in lockstep, indicating broad participation and alignment with price action.

Fibonacci Retracements

The 61.8% Fibonacci retracement level of the prior 0.00914–0.00967 swing sits at 0.00944, which coincided with a key support level during the session. A break above 0.00967 would target 0.00978 on the next Fibonacci extension.

The market appears to be gathering bullish momentum with a clear breakout above key resistance and strong volume confirmation. However, traders should remain cautious about overbought conditions and potential pullbacks in the coming 24 hours.