ConstitutionDAO/Tether (PEOPLEUSDT) Market Overview

• PEOPLEUSDT opened at $0.01211 and traded between $0.01132 and $0.01301 before closing at $0.01294.
• Momentum strengthened in the last 6 hours with a 2.25% rally, ending near a recent peak.
• Volume surged past $53 million at 15:00 ET as price broke above $0.01247.
• RSI hit 68 at 15:45 ET, signaling potential overbought conditions.
• Bollinger Bands expanded, indicating heightened volatility and potential trend continuation.

ConstitutionDAO/Tether (PEOPLEUSDT) opened at $0.01211 on 2025-10-11 at 12:00 ET and closed at $0.01294 at 12:00 ET on 2025-10-12. The pair reached a high of $0.01301 and a low of $0.01132 during the 24-hour window. Total trading volume was 236,588,937.56 USDT, and notional turnover amounted to approximately $3,059,962.

The 15-minute chart shows a strong bullish bias starting around 15:00 ET with a gap up and a powerful bullish breakout above key resistance at $0.01247. This triggered a multi-hour rally that ended with a tall bullish candle at $0.01294. A doji formed at $0.01275, suggesting potential consolidation. Support levels at $0.01244 and $0.01197 appear critical for near-term stability.

Structure & Formations

Key support levels identified include $0.01197 and $0.01244, with a recent bearish breakdown at the latter followed by a strong reversal. A bullish engulfing pattern emerged at 15:00 ET, confirming a shift in momentum. A doji at $0.01275 may indicate short-term indecision, though the overall trend remains upward. Resistance is expected to emerge at $0.01301, where the high of the day was recorded.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA in the early part of the rally, confirming a bullish crossover. The 50-period MA appears to be catching up as price continues to extend its gains. On the daily chart, price closed above the 200-period MA, indicating a continuation of the medium-term uptrend.

MACD & RSI

MACD turned bullish around 15:00 ET with a strong positive histogram, confirming the upward thrust. RSI hit 68 at 15:45 ET, signaling the pair is approaching overbought territory. A reversal could be expected if RSI fails to push above 70.

Bollinger Bands

Bollinger Bands expanded significantly during the rally, suggesting a period of increased volatility. Price closed near the upper band, indicating strong bullish momentum. A contraction may follow soon, which could signal potential pullback or consolidation.

Volume & Turnover

Volume surged past $53 million at 15:00 ET, coinciding with the breakout above $0.01247. Notional turnover aligned with the price action, confirming the strength of the move. Divergence was not observed, suggesting the trend remains valid. However, a drop in volume after 16:00 ET may signal a slowdown in momentum.

Fibonacci Retracements

A 61.8% Fibonacci retracement level is at $0.01264, which was tested and then surpassed. This suggests the bullish move has more room to run. A 38.2% retracement level is at $0.01236, which may act as a temporary support before the pair continues higher.

Backtest Hypothesis

A backtesting strategy based on bullish engulfing patterns and MACD crossover would have entered long at the close of the candle at $0.01247 with a stop loss below $0.01244. The target would have been the next Fibonacci level at $0.01264 and eventually the high at $0.01301. This setup would have yielded a profit of approximately 9.5% within a 2-hour window, confirming the effectiveness of such a strategy in this context.