Market Overview: Cetus Protocol/Tether (CETUSUSDT) 24-Hour Price Action and Key Technical Indicators

• Price declined from $0.0815 to $0.0739, with over $6.5 million in turnover.
• Volatility expanded after 13:45 ET, as a bearish engulfing pattern formed.
• RSI approached oversold territory, hinting at potential short-term rebound.
• Bollinger Bands widened, indicating heightened uncertainty.
• Volume spiked during the major downward move, confirming bearish momentum.

Cetus Protocol/Tether (CETUSUSDT) opened at $0.0814 on 2025-10-06 at 12:00 ET, peaked at $0.0815, and closed at $0.0739 on 2025-10-07 at 12:00 ET, with a 24-hour low of $0.0733. Total volume amounted to 29,143,355.4, while notional turnover reached approximately $6,518,512.

Structure & Formations

Price action over the past 24 hours featured a significant bearish reversal from the $0.0815 resistance level, which failed to hold after a brief test at 13:45 ET. A large bearish engulfing candle formed at that time, confirming the breakdown. Key support levels now appear at $0.0780 (38.2% Fib), $0.0755 (61.8% Fib), and $0.0733 (major low). A doji formed near $0.0739 on the last candle, suggesting potential indecision and a possible near-term pause.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs crossed below the price after the 13:45 ET candle, reinforcing bearish momentum. On the daily chart, the 50/100/200 EMA lines remain in a descending order, with the price currently below all three. The 50/200 MA crossover remains neutral, but the current price structure favors continuation of the downward trend.

MACD & RSI

The MACD line fell sharply below the signal line during the major selloff, confirming a bearish divergence. The histogram showed a significant contraction, aligning with the bearish engulfing pattern. RSI dipped below 30 at the close, suggesting the asset may have entered oversold territory. However, RSI has not yet confirmed a reversal, with price still trending lower after the dip.

Bollinger Bands

Bollinger Bands expanded significantly during the downward move, indicating rising volatility. The price closed near the lower band at $0.0739, suggesting potential for a bounce or continuation. A retest of the $0.0733 level may signal a new support or trigger further selling pressure if the lower band breaks.

Volume & Turnover

Volume spiked during the major bearish move, peaking at 2.6 million around the 13:45 ET candle. This supports the validity of the breakdown pattern. However, volume has not surged on the most recent consolidation near $0.0739, indicating a possible lack of follow-through. Notional turnover has declined as the price has approached oversold conditions, potentially hinting at a near-term reversal.

Fibonacci Retracements

Applying Fibonacci retracements to the 24-hour move from $0.0815 to $0.0733, key levels at $0.0780 (38.2%), $0.0766 (50%), and $0.0755 (61.8%) appear relevant. The 38.2% level is currently acting as resistance on the rebound, while the 61.8% level may serve as a potential reentry point for bears. A break below $0.0733 could extend the correction into lower territory.

Backtest Hypothesis

A potential backtest strategy could involve entering a short position when the price breaks below the 20-period SMA on the 15-minute chart, with a stop above the recent high of the bearish engulfing candle at $0.0815. A take-profit target could be placed at the 61.8% Fibonacci level at $0.0755, with a secondary target at $0.0733. This approach would aim to capitalize on the confirmed bearish trend while managing risk with a defined stop-loss. Given the current positioning near the lower Bollinger Band and oversold RSI, a bullish reversal trade could also be tested using a long entry on a break above $0.0739 with a target at $0.0755.