ConstitutionDAO/Tether USDt Market Overview for 2025-09-10

• ConstitutionDAO/Tether USDt (PEOPLEUSDT) closed 0.01996 at 12:00 ET, up from an opening of 0.01963
• Price tested key resistance at 0.0203 and 0.02057, with a 0.02007-0.02057 range dominating late trading
• Volatility expanded after 0.02015, with Bollinger Bands widening and RSI peaking near overbought levels
• Notional turnover surged to $17,087,349 as volume hit 17,298,770, confirming strength in the upper range
• A bullish engulfing pattern emerged near 0.02003-0.0203, suggesting short-term consolidation ahead

ConstitutionDAO/Tether USDt (PEOPLEUSDT) opened at 0.01963 and closed at 0.01996 by 12:00 ET after reaching a high of 0.02057 and a low of 0.01951. The 24-hour notional turnover was approximately $17,087,349 on a total volume of 17,298,770, with late-day strength around 0.0203.

Structure & Formations

Price tested key resistance levels at 0.0203 and 0.02057 with mixed results, as buyers failed to sustain above 0.0204 despite a bullish engulfing pattern forming near 0.02003-0.0203. A bearish divergence in volume emerged above 0.02043, suggesting waning momentum. A notable doji formed at 0.02023-0.02025, signaling indecision after the late rally.

Key Support/Resistance Levels

- Support: 0.02001, 0.01987, 0.0198
- Resistance: 0.0202, 0.0203, 0.02043
- Fibonacci Retracements (15-min): 0.02009 (38.2%), 0.02026 (61.8%)

Moving Averages

On the 15-minute chart, price stayed above the 20-period and 50-period moving averages, confirming a short-term bullish bias. On the daily chart, a longer-term bearish trend persisted as the 50-period MA lagged below the 200-period MA.

MACD & RSI

The MACD crossed into positive territory, indicating strengthening bullish momentum, while the RSI peaked near 65–70, suggesting overbought conditions. A potential pullback may follow if RSI falls below 50.

Bollinger Bands

Volatility expanded as Bollinger Bands widened from ±0.0002 to ±0.0005 in the last 6 hours. Price closed near the upper band at 0.0203, indicating overbought territory and a possible reversion to the midline. A break above the upper band could signal a continuation of the current rally.

Volume & Turnover

Volume and turnover surged after 0.02015, confirming the bullish breakout. A divergence in volume was noted at 0.02043, where volume declined despite rising prices, suggesting weakening conviction. Total turnover of $17,087,349 was concentrated in the 0.02001–0.02057 range, reflecting heavy participation from 21:00 to 08:00 ET.

Backtest Hypothesis

A potential backtest strategy could involve entering long positions on a bullish engulfing pattern confirmation near key support levels, with a stop loss placed below the 0.02001 level and a take profit at 0.02043. The RSI and MACD could serve as filters for entry and exit timing, while the Bollinger Bands offer a volatility-based risk management tool. This approach may work well in a ranging market with clear support/resistance levels.

Price may consolidate near 0.02003–0.0203 in the next 24 hours, with a risk of a pullback to 0.01987 if short-term momentum weakens. Traders should watch for a potential break above 0.02043 for a more extended rally, though overbought conditions may invite profit-taking.