PEOPLEUSDT Stuck in Range — Will 0.00683 Hold?

Summary
• Price remained in a tight 0.00683–0.00697 range with no clear breakout.
• Momentum weakened after midday as RSI approached oversold territory.
• Bollinger Bands narrowed late morning, hinting at potential volatility.
• Volume surged briefly during a 0.00692–0.00696 consolidation but faded.
• A long lower shadow at 02:45 ET signaled tentative buying interest.

ConstitutionDAO/Tether (PEOPLEUSDT) opened at 0.00690 on 2026-02-20 12:00 ET and closed at 0.00682 by 12:00 ET on 2026-02-21. The 24-hour high reached 0.00697, while the low fell to 0.00681. Total volume traded was 13,038,694.2 units with a notional turnover of 89,480.22 USDT.

Structure and Key Levels

Price spent most of the 24-hour period within a 140-pip trading range, bounded by a key resistance cluster at 0.00692–0.00697 and a support cluster near 0.00683–0.00688. A bearish engulfing pattern at 00:45 ET confirmed the downward shift toward the lower end of the range.

Moving Averages and Momentum

On the 5-minute chart, price hovered just below the 20-period and 50-period moving averages most of the day, suggesting a lack of directional momentum. RSI dipped into oversold territory in the early hours, but no strong rebound followed.

Bollinger Bands and Volatility

Bollinger Bands contracted briefly during the morning session, particularly between 00:00 and 02:00 ET, followed by a modest expansion. Price remained in the lower half of the bands for most of the period, consistent with bearish bias.

Volume and Turnover Dynamics

Volume spiked during consolidation near 0.00692–0.00696 in the afternoon but dissipated quickly, suggesting indecision. Turnover and volume remained largely aligned, with no signs of wash trading or abnormal divergence.

Fibonacci Retracements

A key 38.2% retracement level at 0.00689 held briefly during the overnight session before price tested and broke through. A potential 61.8% level at 0.00683 acted as support in the morning but was tested again later in the session.

Market participants may observe how price reacts to the 0.00683 support and 0.00690 resistance in the next 24 hours. A break of 0.00690 could signal renewed buying interest, but a continued lack of conviction could lead to further sideways consolidation or a test of 0.00681. Investors should remain cautious given the low volatility and limited directional bias.