ConstitutionDAO/Tether (PEOPLEUSDT) Market Overview: 24-Hour Technical Summary as of 2025-11-02

• Price closed near recent highs, with bullish momentum observed in late ET sessions.
• Volatility increased after a consolidation phase, leading to a strong break above prior resistance.
• RSI suggests moderate overbought conditions; volume supports the bullish break.
• Key support levels at 0.01165 and 0.01155 appear intact, with no major bearish reversal patterns yet.
• Momentum may face short-term pullback risks if 0.01178 is not confirmed as a new resistance.

ConstitutionDAO/Tether (PEOPLEUSDT) opened at 0.01146 on 2025-11-01 at 12:00 ET and closed at 0.01177 by 12:00 ET on 2025-11-02. The pair reached a high of 0.01190 and a low of 0.01132 during the 24-hour period. The total traded volume was approximately 49,155,580.3 units, with turnover reaching $571,518.88, reflecting strong market participation during key bullish surges.

Structure & Formations

Price action on the 15-minute chart shows a strong bullish breakout after a consolidation phase between 0.01155 and 0.01165. A key breakout above 0.01170 was supported by high-volume confirmation. A bullish engulfing pattern emerged around 2025-11-02 at 06:00 ET, pushing price to 0.01190. No major bearish reversal patterns like hammers or dojis have formed so far. Strong support levels remain at 0.01165 and 0.01155, with 0.01178 acting as the first level of resistance.

Moving Averages

Short-term 20-period and 50-period moving averages on the 15-minute chart have crossed to the upside since 2025-11-02 at 04:00 ET, confirming a bullish shift in momentum. The daily 50-period moving average is currently below the 100-period and 200-period lines, suggesting the asset is in a short-term upcycle but still within a longer-term sideways or consolidating pattern.

MACD & RSI

The MACD line crossed above the signal line around 2025-11-02 at 03:00 ET, aligning with a strong bullish price surge. Positive divergence in the histogram has continued through the close of the period. The RSI has climbed above 65, indicating moderate overbought conditions, and may signal a short-term pause or pullback. However, volume and price alignment suggest buying pressure could continue.

Bollinger Bands

Price remained well above the 20-period Bollinger Band midline for most of the day, with volatility increasing as the band expanded. The upper band rose to 0.01189, and price briefly exceeded it before closing at 0.01177. This suggests a potential reversal could occur if price closes below the midline over the next 24 hours.

Volume & Turnover

Volume spiked significantly during the breakout phase between 0.01170 and 0.01190. The largest single-candle volume was observed at 0.01190, with a 15-minute volume of 6,270,738.2 units. Notional turnover was particularly strong between 0.01170 and 0.01185, confirming the bullish breakout. No significant divergence between volume and price movement was observed.

Fibonacci Retracements

Fibonacci retracement levels applied to the recent 15-minute swing from 0.01132 to 0.01190 show price closing near the 61.8% level at 0.01172. A potential continuation could aim for 0.01195 (127.2% extension), while a 50% retest at 0.01161 may offer a key support zone for the next session.

Backtest Hypothesis

A 5-day-hold golden-cross backtest from 2022-01-01 to 2025-11-02 could be applied using a strategy that enters a long position when the 20-period moving average crosses above the 50-period moving average on the daily chart. Given the current 15-minute bullish momentum and the recent 20/50 crossover, a similar strategy may find validation in the short term. However, given the current RSI suggesting overbought conditions, a filter for volume and price confirmation is crucial to avoid false signals.