Market Overview for ConstitutionDAO/Tether (PEOPLEUSDT)

Summary
• Price formed a bullish engulfing pattern near 0.01038–0.01041.
• Volume spiked during the 19:15–19:30 ET window, confirming buying pressure.
• RSI hovered near 30–40, suggesting subdued momentum without oversold signals.
• Bollinger Bands showed mild contraction midday, with price testing the lower band at 0.01025–0.01029.
• Fibonacci 61.8% level at ~0.01035 acted as key support during pullbacks.

ConstitutionDAO/Tether (PEOPLEUSDT) opened at 0.01039 on 2026-01-10 12:00 ET, reaching a high of 0.01053 and a low of 0.01015 before closing at 0.01022 on 2026-01-11 12:00 ET. Total volume amounted to ~17.7 million USDT, with notional turnover of ~182,000 USDT over 24 hours.

Structure & Formations

Price action revealed a bullish engulfing pattern in the 19:15–19:30 ET timeframe, as the pair moved from 0.01040 to 0.01053, forming a key reversal signal. A bearish harami appeared at 0.01033–0.01035, hinting at possible consolidation. Support levels emerged at 0.01025–0.01029 and 0.01015–0.01017, with the 61.8% Fibonacci level (~0.01035) providing repeated short-term support.

Moving Averages and Momentum

The 20-period and 50-period moving averages on the 5-minute chart moved in tandem, staying below the price action, suggesting a lack of strong upward bias. RSI remained between 30–40 for much of the day, indicating sideways momentum. A bearish divergence appeared between price and RSI in the 15:45–16:00 ET window as price made higher lows but RSI declined, hinting at weakening bullish conviction.

Volatility and Bollinger Bands

Bollinger Bands narrowed between 09:45–10:15 ET, signaling low volatility, followed by a breakout that pushed the pair to a high of 0.01053. Price later settled near the lower band at 0.01025–0.01029 before the 24-hour close, suggesting a potential rebound.

Volume and Turnover Dynamics

Volume surged between 19:15–19:30 ET, coinciding with the bullish engulfing pattern and a rise to 0.01053. Notional turnover spiked to ~3,656 USDT during this window, supporting the move higher. However, volume declined below 300,000 USDT in the final hours, indicating reduced conviction in the upward trend.

The pair may test the 0.01035–0.01037 Fibonacci level in the next 24 hours for potential bullish follow-through. Traders should remain cautious as volatility remains moderate and overbought conditions have yet to develop.