Celer Network/Tether (CELRUSDT) Market Overview for 2025-09-23

• Price closed lower after forming a bearish evening star pattern near 0.0071.
• Volatility increased as price swung between 0.00694 and 0.0072, with heavy volume in the 23:00–05:00 ET range.
• RSI showed overbought levels briefly before a sharp reversal, suggesting a shift in market sentiment.
• Bollinger Bands expanded significantly, highlighting heightened uncertainty.
• Turnover spiked at 0.00709 and 0.00714, aligning with key resistance levels.

Celer Network/Tether (CELRUSDT) opened at 0.00706 at 12:00 ET−1 and closed at 0.0071 on 12:00 ET. The 24-hour range was 0.00694 to 0.0072, with total volume of 43,362,562.19 CELR and a notional turnover of approximately $305,114.44 at average prices.

The price action displayed a bearish reversal pattern with a bearish evening star forming around 0.0071, following a strong bullish impulse in the early hours. A key support level formed at 0.00705–0.00707, as seen in multiple retests and failed breakouts. Resistance was found at 0.0071 and 0.00714, with notable rejection from these levels after spikes in volume. The 20-period moving average on the 15-minute chart crossed below the 50-period line, suggesting short-term bearish momentum.

Momentum shifted rapidly after 23:00 ET, with the RSI peaking near 65–70 (overbought territory) before a sharp decline. The MACD line crossed below the signal line around 04:00 ET, confirming a bearish bias. Bollinger Bands expanded significantly during the 03:00–07:00 ET window, indicating increased volatility and uncertainty. Price traded near the upper band during the 14:00–16:00 ET window but failed to sustain the move.

Fibonacci retracement levels highlighted key psychological levels in the range, with 0.00709 (38.2%) and 0.00705 (61.8%) being tested multiple times. Volume and turnover diverged from price after 08:00 ET, with lower volume on continued bearish closes, suggesting waning conviction among sellers. The next 24 hours may see a test of 0.00705 as a critical support. Traders should monitor volume behavior near this level, as a break below could signal a deeper pullback.

The Backtest Hypothesis would involve identifying bearish reversal patterns such as the evening star near key resistance levels, with RSI entering overbought territory and MACD confirming bearish momentum. A sell entry could be triggered on a close below 0.00705, with a stop above the 0.0071–0.00714 resistance range. A target of 0.00700–0.00695 could be set based on the 61.8% Fibonacci retracement.