Market Overview for ConstitutionDAO/Tether (PEOPLEUSDT)

Summary
• Price fluctuated between $0.01032 and $0.01076, with a bearish bias during late ET hours.
• Key resistance at $0.01056 and support at $0.01043 showed strong influence on intraday price action.
• Volume spiked during the 3:00 AM–4:00 AM ET window, but failed to confirm bullish follow-through.
• RSI hovered near neutral territory, indicating lack of strong momentum despite price swings.
• Bollinger Bands tightened in the early session before expanding, suggesting potential trend resumption.

At 12:00 ET–1 on 2026-01-08, ConstitutionDAO/Tether (PEOPLEUSDT) opened at $0.01056, reaching a high of $0.01076 and a low of $0.01032 before closing at $0.01046 at 12:00 ET on 2026-01-09. Total volume reached 15.2 million, with $158,511 in turnover over 24 hours.

Structure and Key Levels

The price formed a bearish flag pattern between $0.01056 and $0.01043 after failing to break above $0.01056. A significant 5-minute bearish engulfing pattern appeared at 2:15 Am ET, reinforcing downward pressure. Resistance is found at $0.01056, while support lies at $0.01043 and $0.01036.

Trend and Momentum

MACD showed a bearish crossover with negative momentum building after 1:45 Am ET. RSI remained within 40–60, signaling neutral territory and limited conviction in either direction. The asset appears to be consolidating after a sharp sell-off, with no clear signs of a reversal.

Volatility and Bollinger Bands

Bollinger Bands contracted between 12:00–1:00 Am ET before expanding, indicating a possible trend continuation. Price remained within the band width for most of the session, though briefly touching the upper band during a midday rebound.

Volume and Turnover

Volume peaked at 2.7 million at 3:00 Am ET but failed to drive a sustained rally, suggesting distribution. Turnover aligned with volume trends, showing higher activity during sell-offs than rebounds. Divergence between volume and price may signal caution for further downside.

Fibonacci Retracements

Key Fibonacci levels from the 1:00 Am–2:00 Am ET swing include 61.8% at $0.01044 and 38.2% at $0.01052. Price stalled near 61.8% and may face renewed pressure if it fails to hold above that level.

Looking ahead, PEOPLEUSDT appears likely to test the 61.8% retracement and key support at $0.01043 over the next 24 hours. Investors should watch for a breakdown below $0.01041, which could initiate a more pronounced bearish phase.