ConstitutionDAO/Tether (PEOPLEUSDT) Market Overview: 24-Hour Technical Summary

• Price declined from 0.01743 to 0.01667 over 24 hours, closing at 0.0173 after a late rally.
• RSI moved from overbought to oversold levels and is now stabilizing near 50.
• Volatility remains low with price contained between 0.01663 and 0.01734.
• Volume surged near close as price rebounded, but turnover remains below key resistance.
• A potential bullish engulfing pattern emerged in the final candle of the 24-hour period.

The ConstitutionDAO/Tether pair (PEOPLEUSDT) opened at 0.01742 on 2025-09-22 at 12:00 ET, reached a high of 0.01743, a low of 0.01663, and closed at 0.0173 at the same time the following day. Total volume across the 24-hour period was 91,422,922.2, with a turnover of approximately USD 1,584,175 (based on average price of 0.01732).

Structure & Formations

Price action showed a bearish bias for the majority of the 24-hour period, with a sharp descent to 0.01667 followed by a steady climb back toward 0.0173. A key support level appears to have been established near 0.01682–0.01684, where price bounced multiple times. The recent 0.01682–0.01684 level is showing strength and may act as a potential floor for the next 24 hours. On the higher timeframes, the 0.0172–0.01725 range appears to function as a resistance level, with several failed attempts to break through.

A few bearish patterns were identified during the early hours of the 24-hour period, including a long lower shadow indicating rejection of lower levels, and a bearish engulfing pattern. Toward the end, a bullish engulfing pattern at the close suggests a possible short-term reversal, though confirmation is still pending.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are currently aligned below the current price, reflecting a bullish crossover in the last hour. This could indicate short-term bullish momentum. The daily chart shows the 50-period and 100-period moving averages crossing, suggesting a potential shift in trend from bearish to neutral.

MACD & RSI

The 15-minute MACD crossed into positive territory in the final hour, with a moderate histogram, signaling building bullish momentum. The RSI, which had been in oversold territory at one point, has rebounded to a neutral 50 level, suggesting that the price may be stabilizing. A potential divergence between the RSI and price occurred during the early morning hours, where price continued to fall while the RSI began to rise, indicating potential short-term bottoming.

Bollinger Bands

Volatility remained within a narrow range, with price mostly staying between the 20-period Bollinger Bands. In the final 4–6 hours, price broke out of the lower band and closed near the middle band, suggesting a possible short-term rebound. A contraction in the Bollinger Bands earlier in the 24-hour period could have indicated a period of consolidation before the recent move.

Volume & Turnover

Volume remained relatively low during the bearish phase but spiked in the final hour as price rose toward 0.0173. The spike in volume coincided with the bullish engulfing pattern, offering confirmation of the potential reversal. Notional turnover, however, remained below the 0.0172–0.01725 resistance level, suggesting that the rally might not yet have the momentum to break through.

Fibonacci Retracements

Fibonacci retracements applied to the recent 15-minute swing from 0.01667 to 0.0173 show key levels at 38.2% (0.01695) and 61.8% (0.01712). Price is currently testing the 61.8% level, which appears to be a strong resistance. A break above 0.01712 could open the path toward the 0.0172–0.01725 cluster, with potential for further upside.

Backtest Hypothesis

Given the price action and technical indicators, a backtest strategy could be constructed around the bullish engulfing pattern observed at the close. A potential entry point could be placed near the open of the next 15-minute candle, with a stop-loss below the 0.01712 Fibonacci level and a take-profit at the 0.0172–0.01725 resistance. This strategy would aim to capture a short-term rebound, relying on the confirmed volume spike and RSI normalization as supporting signals. However, the lack of strong momentum above key resistance levels suggests that a conservative approach with tight stops is necessary.