ConstitutionDAO/Tether Market Overview: PEOPLEUSDT on 2025-11-09

Summary
• PEOPLEUSDT opened at $0.01269 and closed at $0.01271, forming bullish continuation patterns.
• Volatility expanded in early hours, with volume surging over 11M, but momentum has moderated in late ET hours.
• RSI shows balanced momentum, while Bollinger Bands indicate a recent reversion to the mean.

ConstitutionDAO/Tether (PEOPLEUSDT) opened at $0.01269 at 12:00 ET-1 and closed at $0.01271 by 12:00 ET, with a 24-hour high of $0.01276 and low of $0.01152. Total 24-hour volume was 138,213,146.6, and notional turnover reached $1,766,141. The pair has shown a volatile but ultimately higher-close bias amid significant early volume spikes.

Structure & Formations

Price action over the last 24 hours displayed a bearish breakdown below the $0.01225 level in the early hours, which was followed by a strong rally back above $0.0125. A bullish engulfing pattern emerged around 05:00 ET as price retested this support. A series of long-legged doji and spinning tops in the late ET hours suggest indecision. Key support appears to be forming near $0.0120–$0.0121, while resistance may be testing at $0.0127–$0.0128.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA in the early morning hours, forming a golden cross. This suggests short-term bullish momentum. On the daily chart, the 50-period MA is rising above the 100-period MA, indicating a longer-term shift in sentiment. The 200-period MA remains well below current price levels, suggesting a departure from long-term bearish bias.

MACD & RSI

The MACD turned positive after 05:00 ET and remained above the signal line, indicating sustained bullish momentum. RSI moved from oversold territory (<30) in the early morning to a neutral 50–55 range by the close, suggesting a balanced market. While no overbought conditions are present, a divergence in RSI and price during the late ET dip hints at potential consolidation ahead.

Bollinger Bands

Price action remained within the Bollinger Bands throughout the day, moving closer to the upper band in the late ET hours. A temporary contraction of the bands occurred around 07:00 ET, followed by a sharp expansion. This suggests increased volatility and potential for a breakout or breakdown. The current price is near the mid-band, indicating a period of equilibrium.

Volume & Turnover

Volume spiked to over 11 million at 02:45 ET during a sharp decline from $0.01234 to $0.01175. However, the subsequent rally was confirmed by a surge in notional turnover exceeding $1.5M, particularly between 05:00 and 07:00 ET. Divergence between volume and price action was observed during the late ET consolidation, which may indicate short-term indecision.

Fibonacci Retracements

Recent 15-minute retracements from the $0.01276 high to the $0.01252 low show a key 38.2% level near $0.01266 and a 61.8% level near $0.01256, both of which were tested and held. On the daily chart, retracement levels from the $0.01152 low to the $0.01276 high have seen resistance at $0.01225 and support near $0.0120.

Backtest Hypothesis

The MACD Golden Cross has historically served as a reliable bullish signal for PEOPLEUSDT. From 2022 to the present, periods where the MACD line crossed above the signal line were often followed by upward price moves. The 20/50 period crossover observed on this 15-minute chart aligns with this strategy and could suggest a continuation of the recent bullish trend, especially if current support levels at $0.0120–$0.0121 hold.