Market Overview for Cetus Protocol/Tether (CETUSUSDT)

Summary
• Price formed a bullish breakout above 0.0232, with volume confirming the move.
• RSI suggests moderate momentum, with price avoiding overbought territory.
• Volatility expanded in the last 5 hours, pushing price near the upper Bollinger Band.
• No strong 5-min candlestick reversal patterns observed.
• On-balance volume shows accumulation above 0.0231.

Cetus Protocol/Tether (CETUSUSDT) opened at 0.0229 (12:00 ET-1), hit a high of 0.0237, and closed at 0.0236 (12:00 ET). The pair traded between 0.0228 and 0.0237, with a total volume of ~37.2 million and a notional turnover of ~$857,000 over 24 hours.

Structure & Formations

Price has established a key resistance at 0.0234–0.0236, with a prior support zone emerging near 0.0231. A strong 5-min bullish engulfing pattern formed at 00:30 ET, followed by a consolidation phase. No significant doji or bearish reversal formations appeared in the 5-min chart.

Moving Averages

On the 5-min chart, the 20-period MA crossed above the 50-period MA early in the session, forming a golden cross. For the daily chart, the 50-period MA is above the 100-period MA, suggesting a short-term bullish bias.

Momentum Indicators

MACD crossed into positive territory around 04:00 ET and maintained a moderate bullish stance. RSI hovered between 50 and 60, indicating steady momentum without overbought conditions.

Volatility and Bollinger Bands

Volatility expanded in the last 5 hours, pushing price near the upper Bollinger Band. A contraction period occurred between 00:15 and 01:30 ET, followed by a breakout.

Volume and Turnover

Trading volume peaked at ~6.7 million around 17:00 ET, coinciding with a price test of 0.0236. Notional turnover aligned well with volume spikes, indicating strong conviction.

Fibonacci Levels

Recent 5-min swings show key Fibonacci levels at 0.0236 (61.8%), 0.0233 (38.2%), and 0.0231 (support). Price appears to be consolidating near the 61.8% retracement level.

The pair may test the 0.0236–0.0237 resistance in the next 24 hours if volume remains supportive. Traders should watch for a potential pullback toward 0.0232–0.0233, but bearish follow-through could signal a retest of 0.023. As always, unexpected macro events or exchange-specific flows may alter this outlook.