ConstitutionDAO/Tether Market Overview: PEOPLEUSDT Sees Bullish Turn in Late Hours

• ConstitutionDAO/Tether (PEOPLEUSDT) saw a 24-hour high of $0.02059 with a 2.7% increase from prior close.
• Price formed bullish divergence in late hours, with RSI suggesting oversold recovery and momentum turning north.
• Volume surged on 2025-09-16 with over 600,000 trades at peak, confirming strong retail participation in late ET hours.
• Bollinger Bands show expansion, indicating rising volatility, with price consolidating near the upper band in final hours.
• 15-minute candles reveal a bullish engulfing pattern at 08:15–08:30 ET, signaling potential short-term reversal.

ConstitutionDAO/Tether (PEOPLEUSDT) opened at $0.01999 on 2025-09-15 16:00 ET and reached a high of $0.02059 by 2025-09-16 08:30 ET, before closing at $0.02049 at 2025-09-16 09:00 ET. Total traded volume for the 24-hour window was 12.4 million USDT, with a notional turnover of $2,540,000.

Structure & Formations

On the 15-minute chart, PEOPLEUSDT formed a bullish engulfing pattern around 08:15–08:30 ET, with a strong close at $0.02049 following a low of $0.02033. This suggests a short-term reversal after a consolidation phase. The price appears to find near-term support at $0.0201–$0.0202 and resistance at $0.0204–$0.0205. A doji formed on the 03:45–04:00 candle, indicating indecision and a potential pause in the upward momentum.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart show a convergence, with the price now trading above both. The 50-period line is slightly rising, indicating that the short-term trend remains bullish. On the daily chart, the 50-period and 100-period lines are nearly parallel with the price above both, suggesting a continuation of the broader uptrend for the week. The 200-period MA is acting as a dynamic floor near $0.0198–$0.0200.

MACD & RSI

The MACD line turned positive on 2025-09-16 morning, with the histogram showing increasing bullish momentum. RSI moved from oversold territory (<30) to mid-40s, indicating a possible short-term exhaustion of bearish pressure. RSI is now approaching overbought territory (>55), suggesting caution for near-term traders.

Bollinger Bands have expanded, reflecting increased volatility, with the price now near the upper band in the final hours. This implies a potential correction or consolidation before a new breakout.

Volume & Turnover

Volume spiked significantly during the 08:00–09:00 ET window, with over 1.4 million USDT traded. This aligns with a sharp price increase, confirming the move. Notional turnover also reached a 24-hour peak in this period. A divergence is visible between price and volume in the early morning hours, where volume dipped while price fell slightly, suggesting weak bearish conviction.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from $0.01971 to $0.02059, key levels at 38.2% ($0.02032) and 61.8% ($0.02017) appear to have been tested and respected. These levels may continue to act as pivotal points for near-term direction. On a daily basis, a 61.8% retracement level near $0.0202 is currently being tested, with the price showing strength above it.

Backtest Hypothesis

The backtesting strategy described involves using a combination of RSI (14) and MACD (12, 26, 9) on the 15-minute chart to identify overbought and oversold conditions, complemented by volume confirmation. A long entry is triggered when RSI drops below 30 and the MACD crosses above the signal line, while volume confirms the reversal. Conversely, a short entry is considered when RSI exceeds 70 and the MACD crosses below the signal line with a volume spike. Given PEOPLEUSDT’s behavior today, a long entry could have been triggered around 06:30–07:00 ET when RSI crossed 30 and MACD turned positive with a volume spike. This suggests the strategy could have captured the late morning rally effectively.

The price of PEOPLEUSDT appears poised to test key resistance at $0.0205–$0.0207 over the next 24 hours. While the bullish momentum is intact, traders should remain cautious of potential pullbacks or consolidations if the RSI overextends into overbought territory. A break above $0.0206 with increasing volume could validate the continuation of the uptrend, but a failure to hold above $0.0203 may signal a short-term correction. Investors should closely monitor volume and Fibonacci levels for confirmation.