Market Overview for ConstitutionDAO/Tether (PEOPLEUSDT)

Summary
• Price surged 19.5% on strong volume, forming a bullish engulfing pattern near key resistance.
• RSI hit overbought territory, while Bollinger Bands showed expanding volatility into the late session.
• Turnover and volume aligned in the final hours, confirming upward momentum but suggesting possible exhaustion.
• 61.8% Fib level at $0.00943 appears to have acted as a psychological floor during pullbacks.
• MACD histogram expanded positively, but a divergence may emerge if the close falls below $0.00975.

Market Overview

ConstitutionDAO/Tether (PEOPLEUSDT) opened at $0.00889 on 2025-12-31 12:00 ET, surged to a high of $0.0104, traded as low as $0.00871, and closed at $0.01017 on 2026-01-01 12:00 ET. Total volume reached 238,072,212.03, with notional turnover at $2,388,048.64, reflecting heightened interest and liquidity.

Price Action and Structure

The pair exhibited a bullish reversal pattern, particularly during the late-night and early-morning ET session, as buying pressure intensified after a consolidation phase between $0.00875 and $0.00946. A key bullish engulfing pattern formed near $0.00931, followed by a decisive breakout to the upside. Price found support near the 61.8% Fibonacci retracement level of $0.00943, which coincided with a tight Bollinger Band contraction early in the session before volatility expanded again.

Momentum and Volatility

RSI climbed into overbought territory during the final hours, peaking above 70, signaling potential for a near-term pullback. The MACD histogram showed a steady expansion in the positive zone through the late session, confirming bullish momentum. Bollinger Bands reflected increasing volatility from contraction in the early hours to a wide band by the close, indicating heightened market activity and uncertainty.

Volume and Turnover

Volume and turnover surged during the final three hours of the 24-hour window, with the most intense buying occurring between 16:45 and 17:00 ET, when volume exceeded 52 million and turnover hit $537,154. A divergence between price and turnover could develop if subsequent volume fails to sustain the recent rally.

Forward-Looking Insight

The current trajectory suggests a possible consolidation phase above $0.00975, with a test of the 20-period 5-min EMA at $0.00995 a likely next target. Traders may watch for a break below the 12:00 ET close of $0.01017, which could trigger a retest of key support near $0.00943. Investors should remain cautious as overbought conditions and heavy turnover may indicate a potential reversal.