Market Overview for ConstitutionDAO/Tether (PEOPLEUSDT) – October 4, 2025

• ConstitutionDAO/Tether (PEOPLEUSDT) opened at $0.01803 and closed 24 hours later at $0.01756, reflecting a bearish trend.
• Intraday volatility expanded midday, with a high of $0.01856 and a low of $0.01744, indicating choppy price action.
• Momentum, as measured by RSI, showed oversold conditions late in the session, suggesting potential for a short-term bounce.
• Notional turnover hit $54.2 million during the 24-hour period, with volume peaking in the early hours of October 4.
• A key support level appears to be forming near $0.01744–$0.01750, with possible resistance at $0.01775–$0.01780.

PEOPLEUSDT opened at $0.01803 on October 3 at 12:00 ET and closed at $0.01756 on October 4 at the same time. The 24-hour range spanned from a high of $0.01856 to a low of $0.01744. Total notional turnover reached approximately $54.2 million, with a total volume of 3.0 billion USDT traded over the period. The pair exhibited a bearish bias, with a prolonged descent in the first half of the session followed by a tentative recovery in the latter half.

Structure & Formations

Price action during the session formed a broad descending triangle, with support consolidating around $0.01744–$0.01750 and resistance appearing in the $0.01775–$0.01780 range. A bearish engulfing pattern was visible around 21:00–21:30 ET, signaling a potential reversal into a downtrend. A doji formed late in the session near the 0.01754 level, suggesting indecision or exhaustion in the bears.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA, forming a death cross and signaling a bearish outlook for the short term. On the daily chart, the 50-period MA is below the 200-period MA, reinforcing the bearish sentiment. The 100-period MA acted as a temporary ceiling during the early recovery attempt.

MACD & RSI

The MACD histogram showed bearish momentum dominance in the first half of the session but began to contract as buyers entered during the recovery phase. RSI hit oversold territory below 30 after 04:00 ET, which may indicate a potential short-term bounce. However, RSI has not confirmed a bullish reversal, as it remains below 50 and lacks a strong bullish divergence.

Bollinger Bands

Volatility expanded during the early part of the session, with the Bollinger Band width peaking as price reached the upper band at $0.01856. By the mid-morning of October 4, volatility had contracted, and price remained within a narrow range near the lower band for several hours. This suggests a period of consolidation before a potential breakout attempt.

Volume & Turnover

Volume and turnover were highest during the early morning and late evening hours, aligning with the strongest moves in price. A notable divergence appeared late in the session when price attempted a recovery but volume remained muted, suggesting weak conviction in the move. The total volume of 3.0 billion USDT is above average, indicating active trading despite the downtrend.

Fibonacci Retracements

Fibonacci levels from the intraday high of $0.01856 to the low of $0.01744 showed the 0.382 (0.01805) and 0.618 (0.01775) levels being tested. Price appears to have found temporary support at the 61.8% retracement level before continuing its decline. On a daily chart, retracement levels from recent highs suggest a possible near-term test of the 0.01760–0.01775 zone.

Backtest Hypothesis

Given the bearish structure and key support/resistance levels identified, a potential backtesting strategy could involve a short-biased approach: entering a short position on a break below the 0.01744–0.01750 support zone with a stop-loss above the 0.01775 Fibonacci level. A target could be set at 0.01730, based on the 61.8% extension of the most recent move. RSI oversold readings and declining MACD momentum could serve as confirmation signals. Traders may also consider a small countertrend long on a bullish breakout of the 0.01775 level, provided it holds and is accompanied by increased volume.