Celer Network/Tether (CELRUSDT) Market Overview

• Celer Network/Tether (CELRUSDT) declined over 24 hours, closing near the session low after a bearish reversal.
• Price tested key support at 0.00527, failing to hold, while resistance lingered above 0.00536.
• Volatility expanded during late-night hours, with a high-volume breakdown below key moving averages.
• Momentum indicators suggested oversold conditions, but price failed to confirm a rebound.
• Turnover reached $6,934,787.95, with late-session selling intensifying amid a breakdown in structure.

Celer Network/Tether (CELRUSDT) opened at $0.005284 on October 30 at 16:00 ET and closed at $0.005376 at 12:00 ET on October 31, reaching a high of $0.005412 and a low of $0.005119. Over the 24-hour period, total volume amounted to 36,883,894.96 CELR and notional turnover reached $6,934,787.95. Price experienced a volatile bearish session, breaking below key moving averages and failing to reverse despite signs of oversold momentum.

Structure & Formations

The price action over the last 24 hours formed a bearish continuation pattern, particularly evident in the late-night and early-morning candles. A key breakdown occurred below the 0.005319 level, confirmed by a large bearish candle on October 31 at 03:45 ET. This candle closed near the session low, suggesting strong selling pressure. Notable support levels emerged at 0.00527 and 0.005319, while resistance is expected to linger between 0.005345 and 0.005367. A bullish engulfing pattern formed near 0.005367, but it failed to trigger a convincing reversal.

Moving Averages

Short-term moving averages on the 15-minute chart, such as the 20-period and 50-period SMAs, crossed below key swing highs, confirming the bearish momentum. The 200-period SMA remained near 0.005356, acting as a psychological floor but not strong enough to halt the decline. On the daily chart, the 50-period and 200-period SMAs are in alignment near 0.00536, which could serve as a potential turning point if buyers step in. However, current price remains below both, maintaining a bearish bias.

MACD & RSI

The RSI reached oversold levels below 30 during the early morning, suggesting exhaustion in the short-term bearish move. However, price failed to generate a strong rebound, indicating lingering bearish sentiment. The MACD line crossed below the signal line in early October 31, confirming a bearish divergence. The histogram showed a broadening bearish bias, with declining positive momentum and expanding negative bars. This aligns with the bearish trend, but the oversold RSI suggests a potential short-term bounce may be in the cards.

The Bollinger Bands expanded significantly overnight, with price testing the lower band multiple times, especially after 03:00 ET. This indicates a high volatility regime and increased uncertainty in market sentiment. Price remained within the bands but showed a strong preference for the lower band, especially during the breakdown in the early morning. A retest of the upper band at 0.005365 may occur if the RSI holds and buyers return, but a sustained breakout is unlikely without a significant shift in volume and momentum.

Volume & Turnover

Volume surged during key breakdowns, particularly between 03:00 and 05:00 ET, with a massive candle at 04:15 ET printing $6,934,787.95 in turnover. This high-volume breakdown below 0.00536 confirmed bearish sentiment. However, price failed to maintain that momentum and saw a retest of the 0.005365–0.005367 range. The divergence between volume and price suggests that while sellers were aggressive in the breakdown, buyers have yet to step in decisively. A significant volume rally on a potential rebound would be required to confirm a shift in sentiment.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from 0.005119 to 0.005412, key levels include 0.00527 (38.2%) and 0.00535 (61.8%). Price found support at 0.00527 but failed to hold, breaking into a deeper correction. The 61.8% level at 0.00535 may offer a potential reversal zone if buyers return. Daily-level retracements from previous highs also align near 0.00536, which could act as a psychological floor. A successful close above 0.005365 could trigger a retest of the 0.005367 resistance.

Backtest Hypothesis

A potential backtest strategy could focus on using the RSI and MACD as entry and exit signals, particularly around the oversold RSI level seen in the early morning of October 31. A golden cross in the MACD may have provided an earlier entry opportunity before the breakdown, while a death cross could have been a sell signal as bearish momentum intensified. Given that the MACD data is currently unavailable for CELR/USDT, using a proxy symbol or an alternative venue with supported data is recommended to validate the strategy’s viability. With the observed price-volume divergence and failed retests of key levels, a short-term bounce may be followed by a retest of the 0.00527 support or a deeper correction if bearish momentum persists.