Celo Market Overview – August 9, 2025

• Celo (CELOUSDT) surged over 20% from 0.3261 to 0.3661 on heightened volume and bullish momentum.
• A bullish engulfing pattern emerged near 0.335–0.340, confirming a breakout above key resistance.
• RSI and MACD signaled strong positive momentum, with RSI trending toward overbought territory.
• Volatility expanded, with Bollinger Bands widening and price consistently trading above the midline.
• Volume spiked near the top of the move, but turnover declined slightly at peak, hinting at possible profit-taking.

Celo (CELOUSDT) opened at 0.3261 on August 8, surged to a high of 0.3661, touched a low of 0.3243, and closed at 0.3661 at 12:00 ET on August 9. The 24-hour notional volume was $28,096,406, and total turnover reached $9,123,402. The price action was driven by strong buying pressure and momentum expansion.

Structure & Formations

CELOUSDT formed a bullish engulfing pattern around 0.335–0.340, confirming a breakout after a consolidation phase. The price then tested and cleared the 0.348–0.350 resistance cluster, now appearing to act as a new support. A key support appears at 0.3350–0.3375, with 0.3243 serving as a critical level if the rally falters.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both trending upward, aligning with the bullish bias. The 50-period MA currently sits just below the price, indicating ongoing strength. On the daily chart, CELOUSDT is trading above the 50, 100, and 200-period MAs, reinforcing the broader uptrend.

MACD & RSI

MACD showed a strong positive crossover in early trading, with the histogram expanding through much of the session. RSI climbed to over 75, suggesting overbought conditions and the potential for a near-term pullback. However, the bullish divergence between price and RSI remains weak, indicating strong follow-through demand may continue.

Bollinger Bands

Bollinger Bands widened significantly as CELOUSDT moved higher, reflecting increased volatility. The price spent most of the session above the midline and occasionally brushed the upper band, suggesting elevated bullish momentum but also highlighting overbought risks.

Volume & Turnover

Volume surged during the morning and midday hours, peaking at $2.7M during the 18:45–19:00 ET session. Notional turnover followed suit, though it declined slightly at the peak price level, hinting at possible profit-taking. The positive price/volume correlation suggests broad-based buying support.

Fibonacci Retracements

Key Fibonacci levels from the 0.3243–0.3661 move are at 0.3453 (38.2%) and 0.3557 (61.8%). The 0.3453 level appears to have acted as a minor resistance-turned-support. A breakdown below 0.3375 would expose the 0.3273–0.3290 retracement zone.

Celo may extend the rally if it breaks above 0.3664, with the next target at 0.3700. However, traders should remain cautious as overbought conditions and declining turnover at the high could trigger a retracement in the near term.