Celer Network/Tether (CELRUSDT) Market Overview

Summary
• CELR/USDT drifted lower in a volatile session, closing near the day’s low.
• Key support tested at 0.004875; resistance around 0.005035.
• Volume surged at key retracement levels, hinting at possible turning points.

The CELRUSDT pair opened at 0.004991 on 2025-11-03 at 12:00 ET, hit a high of 0.005121, and fell to a low of 0.004804 before closing at 0.004932 at 12:00 ET on 2025-11-04. Total volume for the 24-hour period was ~159.2 million CELR, with a notional turnover of approximately $774,586.

The price action formed a bearish consolidation pattern, with a large bearish engulfing candle on the daily chart, suggesting a potential reversal. Price tested a Fibonacci 61.8% retracement level at ~0.004925, which served as a critical support. A bearish breakdown below this level could signal deeper bearish momentum. Resistance appears to be forming around 0.005035–0.005050, where multiple candle closures and failed breakouts occurred.

Bollinger Bands showed a widening volatility trend through the session, with price testing the lower band multiple times. RSI dropped into oversold territory below 30 during the late evening, indicating a potential short-term bounce. The 15-minute 20/50 EMA cross confirmed the short-term bearish bias, while the daily 50/100/200 EMA showed a flattening trend, suggesting uncertainty in the medium-term direction.

MACD showed a bearish divergence in the final hours of the session, with the histogram contracting after an initial bearish surge. Volume spiked at key retracement levels, particularly at 0.004925 and 0.004905, indicating increased participation at critical price levels. However, price failed to hold above 0.004950 in the last 6 hours, raising questions about the strength of bullish bounces.

Backtest Hypothesis

Given the observed bearish engulfing formation on the daily chart and the breakdown below the 0.004925 level, the backtest strategy aligns with the current technical environment. A bearish strategy could be initiated on a confirmed close below 0.004925, with a stop-loss above the most recent high of 0.004950. The exit condition—closing price falling below 0.004925—provides a clear and actionable target. If you can provide either a list of bearish engulfing dates or raw OHLC data since 2022-01-01, the backtest can be executed precisely. Alternatively, a proxy using bearish RSI or MACD divergence could be implemented for immediate testing.