ConstitutionDAO/Tether Market Overview (2025-10-01)

• PEOPLEUSDT opened at $0.01601 and closed at $0.0171, reaching a 24-hour high of $0.01731.
• Strong upward momentum was observed after 08:45 ET with a 15-minute high of $0.01714 and a 200% volume spike.
• Price traded above key moving averages, suggesting continued bullish bias with a 67.4 RSI indicating moderate strength.
• Volatility increased significantly after 08:45 ET, with Bollinger Band expansion and volume exceeding 10 million.

24-Hour Market Snapshot

On October 1, 2025, ConstitutionDAO/Tether (PEOPLEUSDT) opened at $0.01601 at 12:00 ET–1 and closed at $0.0171 by 12:00 ET. The pair surged to a high of $0.01731 and dipped to a low of $0.01604 during the period. Total 24-hour volume reached 31,833,628.0 units, with a notional turnover of $543,689.91. The price move reflects growing bullish conviction and increased on-chain activity in the final hours of the 24-hour window.

Structure & Formations

The 24-hour chart displayed a strong bullish bias, particularly from 08:45 ET onward, where the price surged from $0.01671 to a high of $0.01731 in just 75 minutes. A key support level was identified at $0.01645–$0.01665, with the price bouncing off this range multiple times before the final breakout. A bullish engulfing pattern emerged at 08:45 ET, confirming a shift in momentum. A notable doji appeared at $0.01725, signaling temporary indecision, but was followed by a strong follow-through.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended upward, with the price staying above both. This suggests a strong continuation of the bullish phase. On the daily chart, the 50-period MA (not available in the dataset) would be critical in identifying longer-term support, but the 200-period MA would likely appear as a psychological floor in the $0.015–$0.016 range.

MACD & RSI

The 15-minute MACD line crossed above the signal line around 08:45 ET, confirming a bullish breakout. RSI reached 67.4 at the peak, indicating strong momentum but not yet overbought. The divergence between rising prices and a flattening RSI suggests a potential pause in the short term. A drop below $0.0171 may trigger a retest of the $0.0169–$0.0170 support zone.

Bollinger Bands

Bollinger Bands contracted tightly between $0.0165 and $0.0169 from 03:45 to 08:15 ET, signaling a consolidation phase. After the breakout at 08:45 ET, the bands expanded significantly, with the price trading near the upper band at $0.01731. This expansion indicates heightened volatility, and if the price remains above the mid-band, it could continue to push higher.

Volume & Turnover

Volume spiked sharply after 08:45 ET, with over 10 million units traded in a 15-minute interval. This coincided with the price surge and was supported by a 200% increase in notional turnover. The volume–price alignment supports the breakout, indicating genuine buying pressure. A key divergence could occur if volume declines while prices remain near $0.01725 or higher, which may indicate a potential reversal or consolidation.

Fibonacci Retracements

Applying Fibonacci to the 15-minute swing from $0.01604 (low at 04:00 ET) to $0.01731 (high at 08:45 ET), the 61.8% level sits at $0.01685, and the 38.2% at $0.01652. Price held above both levels and showed strength near $0.01725, suggesting that a retest of the 61.8% level could act as a potential barrier for further upside.

Backtest Hypothesis

A potential backtesting strategy would involve a breakout-based long entry on the 15-minute chart when the price closes above the 50-period MA with volume above the 20-period average. A stop-loss could be placed just below the previous 15-minute swing low, and a target could be set at the 61.8% Fibonacci extension level. This strategy aligns with the breakout at 08:45 ET, where all conditions were met, supporting its validity for a short-term trading approach.