Celer Network/Tether Market Overview

• CELR/USDT dropped 48.8% from $0.0077 to $0.00319 in a 15-minute candle, marking a sharp bearish reversal.
• Price remained below key moving averages with RSI at 14, suggesting oversold conditions.
• Volatility spiked 400% in midday ET with a 200M+ turnover candle, but momentum failed to sustain.
• Key support at $0.0052 held through overnight trading, forming a potential floor for near-term buyers.
• A bearish engulfing pattern formed near $0.0077, signaling a short-term top in the earlier session.

Opening and Price Action Summary

Celer Network/Tether (CELRUSDT) opened at $0.00769 on 2025-10-10 at 12:00 ET, reaching a high of $0.00775 and a low of $0.00319 before closing at $0.0054 at 12:00 ET the following day. Total volume traded over the 24-hour window was 517,639,476 CELR, with a notional turnover of approximately $2,769,801 USD. The pair experienced a dramatic 48.8% drop in a single 15-minute candle, marking one of the most volatile moments of the session.

Structure & Formations

The 15-minute OHLC data reveals a bearish breakout from a short-term consolidation phase around $0.0076–$0.0077, followed by a sharp drop to $0.00319. A bearish engulfing pattern emerged near $0.0077, confirming a short-term top. A long-legged doji formed at $0.00521, suggesting indecision. Key support levels are now at $0.0052 and $0.0046, while resistance remains at $0.0055 and $0.0057. A potential double-bottom pattern is forming at $0.0052–$0.0053, suggesting a potential rebound if buyers regain control.

Moving Averages

On the 15-minute chart, price closed below the 20SMA and 50SMA, indicating a short-term bearish bias. On the daily chart, it remains below the 50DMA, 100DMA, and 200DMA, suggesting a broader downtrend. The 50DMA crossed below the 200DMA on the daily chart, confirming a bearish crossover. If price closes above $0.0056 in the next 24 hours, the 50DMA may act as a short-term target for rebounds.

MACD & RSI

The MACD turned bearish after the initial drop, with the MACD line crossing below the signal line at $0.0035. The histogram has remained negative throughout the session, confirming the bearish momentum. RSI reached an oversold level of 14 by the early hours of the next day, suggesting a potential bounce near $0.0052–$0.0053. However, RSI has not yet shown a reversal, so caution is warranted before taking a bullish stance.

Bollinger Bands have widened significantly during the sharp drop, indicating a period of high volatility. Price currently sits near the lower band at $0.0053, suggesting a potential bounce or a continuation of the decline depending on the next 15-minute candle. A close above the middle band may trigger a short-term reversal signal.

Volume & Turnover

Volume spiked dramatically during the drop from $0.0077 to $0.00319, reaching 55,259,436 CELR in a single 15-minute candle. Notional turnover during that candle was approximately $199,986, the highest of the day. However, the following candles saw significantly lower volume, suggesting a lack of follow-through buying. Price and volume appear to have diverged, with volume declining while price continued to fall slightly in the following hours.

Fibonacci Retracements

Applying Fibonacci retracement to the recent $0.0077–$0.00319 swing, key levels at 38.2% ($0.0054), 50% ($0.0055), and 61.8% ($0.0056) align closely with the current price action. If buyers step in at the 38.2% level, a short-term rebound toward $0.0055–$0.0056 may follow. Conversely, a breakdown below the 38.2% level could extend the decline toward $0.0046–$0.0048.

Backtest Hypothesis

A potential backtesting strategy for CELR/USDT could involve a short-term bounce strategy, where positions are initiated on a close above the 38.2% Fibonacci retracement level ($0.0054) with a stop-loss below $0.0051. This approach leverages the current oversold RSI and the support clustering at $0.0052–$0.0053. The target could be set at $0.0056, where the 50% Fibonacci and 50DMA converge. Given the bearish MACD and lack of follow-through volume, a tight stop-loss is essential to manage risk in a highly volatile environment.