Celer Network/Tether Market Overview

• CELRUSDT traded in a tight range amid moderate volume, with price consolidating above key support near $0.00771.
• A bullish engulfing pattern formed mid-session, followed by a retracement signaling potential indecision.
• RSI suggests overbought conditions near 70, while MACD remained neutral, hinting at possible pullback.
• Bollinger Bands showed slight expansion after an earlier contraction, suggesting rising short-term volatility.
• Turnover spiked during the 19:00–20:00 ET rally, indicating heightened interest during the bullish phase.

Market Summary

Celer Network/Tether (CELRUSDT) opened at $0.00773 on 2025-10-02 12:00 ET, hit a high of $0.00795, and closed at $0.00793 on 2025-10-03 12:00 ET. The 24-hour trading period saw a low of $0.00767. Total volume was approximately 39.3 million CECLR, with notional turnover reaching $3.13 million. Price action reflected a bullish push followed by consolidation, with key levels influencing sentiment.

Structure & Formations

Price found a strong support floor at $0.00771, with a subsequent bullish engulfing pattern forming on the 15-minute chart at 19:00 ET, signaling a potential reversal. This was followed by a corrective retracement into $0.00783, where buying interest reemerged. A bearish harami appeared near the close, suggesting short-term uncertainty. The $0.00785–0.00794 range acted as a dynamic resistance zone, with price testing this area multiple times.

Moving Averages

On the 15-minute chart, price remained above both the 20-period and 50-period SMAs, suggesting a short-term bullish bias. However, the 50-period line was pulling upward into the current price, indicating potential for consolidation. On the daily chart, CELRUSDT remains above the 50- and 100-day SMAs but has yet to close above the 200-day SMA, which remains a long-term hurdle.

MACD & RSI

The MACD line crossed above the signal line during the midday rally, confirming bullish momentum, but has since flattened, suggesting waning energy. RSI reached 70 near the session high, entering overbought territory, which could trigger profit-taking. However, divergence between price and RSI was not observed, maintaining the validity of the current trend.

Bollinger Bands showed a narrowing contraction from 02:00–04:00 ET, followed by a moderate expansion after the bullish breakout, suggesting increased volatility and potential continuation. Price remained within the bands throughout the session, indicating a lack of extreme volatility but not ruling out a breakout in the near term.

Volume & Turnover

Volume spiked during the 19:00–20:00 ET rally, coinciding with the bullish engulfing pattern and a price push to $0.00795. This was the most liquid 30-minute window of the day, with approximately $1.68 million in turnover. Conversely, volume contracted in the early morning hours, during which price fell to $0.00771. No significant divergence between price and volume was observed, suggesting genuine buying and selling pressure.

Fibonacci Retracements

Applying Fibonacci levels to the 15-minute swing from $0.00771 to $0.00795, the 38.2% retracement at $0.00785 and 61.8% at $0.00781 were key levels where price paused multiple times. On the daily chart, the 61.8% retracement of the broader range (not shown) appears to align with the 50-day SMA, suggesting a possible near-term pivot point if the bullish trend continues.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions on a bullish engulfing pattern confirmation, with a stop-loss placed below the 61.8% Fibonacci retracement level at $0.00781 and a target set at the next major resistance at $0.00794. The MACD crossover could be used as an entry confirmation, while RSI reaching overbought conditions would trigger a trailing stop or partial exit. This approach leverages both pattern and momentum signals, balancing risk and reward based on the observed structure.