Celer Network Market Overview: Bearish Consolidation Amid Elevated Volatility

• Celer Network (CELRUSDT) closed near 0.00889, down 0.44% over 24 hours amid bearish momentum.
• A bearish engulfing pattern formed during early ET hours, confirming a shift in sentiment.
• Volatility expanded midday as price dropped to 0.00866, with volume surging during the selloff.
• RSI entered oversold territory, suggesting potential short-term buying interest.
• Bollinger Bands widened during the decline, signaling heightened uncertainty in the market.

Celer Network (CELRUSDT) opened at 0.00896 on 2025-07-22 at 12:00 ET, reached a high of 0.00919, a low of 0.00864, and closed at 0.00889 by 12:00 ET on 2025-07-23. Total volume across the 24-hour window was 81,113,801 CELR, with a notional turnover of approximately $725,328.

Structure & Formations

The 24-hour 15-minute chart revealed a bearish engulfing pattern early on, as the price moved from 0.00893 to 0.00888 in a single candle, signaling a reversal from bullish to bearish sentiment. A series of lower highs and lower lows followed, with key support levels forming around 0.00884 and 0.00866. A doji formed near 0.00886, indicating indecision.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were both bearish, with price consistently below both. On the daily chart, the 50-period moving average acted as a weak resistance, while the 200-period MA was significantly higher, suggesting long-term bearish bias.

MACD & RSI

The MACD line turned negative in the morning, confirming bearish momentum. RSI dropped to 28 by midday, entering oversold territory, which may suggest a short-term bounce, but not a reversal. The RSI divergence was not strong enough to signal a reversal, and the MACD histogram showed continued contraction.

Bollinger Bands

Bollinger Bands expanded during the selloff, indicating increased volatility. The price traded below the lower band during the decline to 0.00866, reinforcing bearish pressure. As the price recovered slightly, it remained within the bands, suggesting no immediate breakout potential.

Volume & Turnover

Volume spiked during the selloff, particularly around the 0.00866 low, with a notional turnover of over $140,000 in a single 15-minute interval. This divergence between volume and price suggests strong bearish conviction during the decline.

Fibonacci Retracements

Applying Fibonacci retracement levels to the key 15-minute swing from 0.00866 to 0.00919, the 38.2% level sits at 0.00897 and the 61.8% level at 0.00887. The 61.8% level coincides with a minor support zone and appears to have capped the recent rebound.

The market may test key support at 0.00866 in the coming 24 hours, with potential for a rebound if RSI remains in oversold territory. However, bearish momentum remains strong, and a breakdown below 0.00866 could extend the downward trend. Investors should remain cautious and watch for divergences in volume and RSI for potential reversal signals.