Market Overview for Celo/Tether (CELOUSDT): 2025-10-11 24-Hour Analysis

• CELO/USDT dropped sharply after a brief recovery, hitting a 24-hour low of 0.2817 near 08:30 ET.
• Price found temporary support around 0.285–0.287 before rebounding late, ending the 24-hour period at 0.2961.
• Strong volume spikes during the 21:00–23:45 ET selloff indicate significant bearish participation.
• RSI and MACD suggest oversold conditions mid-day, but momentum failed to sustain long enough for a meaningful reversal.
• Bollinger Bands show increased volatility during the selloff, with price closing near the upper band at the end of the period.

The CELO/USDT pair opened at 0.3398 on 2025-10-10 at 12:00 ET, reached a high of 0.3425, and a low of 0.2817, closing at 0.2961 as of 2025-10-11 at 12:00 ET. Total volume over the 24-hour period was 44,824,814.2, with a notional turnover of $13,317,205.86.

Structure & Formations

The 15-minute OHLCV data reveals a key support zone forming around 0.285–0.287, where CELO/USDT found brief stability after a major selloff. A large bearish engulfing pattern occurred between 21:30–22:15 ET, as price moved from 0.3123 to 0.2477. A second, smaller bearish engulfing pattern occurred around 0.293–0.285. A potential bullish reversal pattern emerged between 08:30–10:00 ET, as price tested key levels and bounced off the 0.285–0.287 support. A small bullish engulfing pattern followed at 10:30 ET, though it was quickly challenged again. A doji formed at 23:30 ET near 0.2562, suggesting indecision among traders, and the price closed the candle with a long lower shadow, indicating potential support at that level.

Moving Averages

Short-term moving averages (20/50-period) indicate a bearish bias on the 15-minute chart. The 50-period MA fell below the 20-period MA during the selloff, forming a death cross. On the daily chart, CELO/USDT closed below both the 50 and 200-period MAs, reinforcing a bearish trend. The 100-period MA also crossed below the 200-period MA during the session, reinforcing long-term bearish momentum.

MACD & RSI

The RSI indicator on the 15-minute chart hit oversold territory (below 30) around 08:00 ET, suggesting potential for a rebound. However, the failure to generate a strong upward move and a retest of support levels indicate a lack of conviction. The MACD line crossed below the signal line during the 21:00–22:15 ET selloff, confirming bearish momentum. The histogram remained negative until 09:00 ET, after which it showed mixed signals. A bearish divergence appeared mid-day as RSI showed a lower high while price continued to drop.

Backtest Hypothesis

The backtest strategy described is a trend-following model that uses a combination of the 50-period MA and RSI to determine buy and sell signals. Specifically, the system enters a long position when the 50-period MA crosses above the 200-period MA (golden cross) and RSI is below 30 (oversold condition), and exits when the 50-period MA crosses below the 200-period MA (death cross) or RSI exceeds 70 (overbought). Given the current market conditions and CELO/USDT’s position below both the 50 and 200-period MAs with RSI in mid-range territory, the strategy would likely remain in a neutral or bearish stance. The recent bearish divergence in RSI and MACD also supports a cautious outlook.