Celo/Tether Market Overview: 24-Hour CELOUSDT Analysis

Summary
• CELOUSDT rose from 0.2069 to 0.2259, forming a bullish bias with key resistance near 0.2263.
• Volatility increased as price broke above 0.2225, supported by rising volume and RSI divergence.
• A potential correction looms as the 50-period MA fails to confirm the upward bias.

Celo/Tether (CELOUSDT) opened at 0.2069 on 2025-11-04 at 12:00 ET and closed at 0.2259 on 2025-11-05 at the same time, hitting a high of 0.2263 and a low of 0.2045. Total volume for the 24-hour window reached 4,581,949.4 and turnover (notional) amounted to $988,840.9. The pair exhibited a clear upward trend amid growing volume and momentum divergence in RSI.

Structure & Formations

The 24-hour chart displayed a strong bullish bias, with the price breaking through a descending trendline that had acted as resistance earlier. A bearish gap filled during the session, signaling renewed buying interest. Notable candlestick formations included a Bullish Engulfing pattern around 0.2111–0.2166 and a Hammer at 0.2045–0.2066. The 0.2150–0.2165 range acted as a key support area, now transitioning to potential resistance if the trend reverses.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA, forming a “golden cross” that confirmed the upward momentum. Daily MAs showed the 50-period MA lagging behind the 100 and 200-period MAs, suggesting short-term strength but a need for longer-term validation.

MACD & RSI

The MACD histogram remained positive throughout the session, with the line above the signal line most of the time, reinforcing the bullish trend. RSI showed signs of overbought conditions near 70 during the session peak, indicating a potential pullback. Notably, RSI diverged with price near the close, forming a bearish signal that may warrant closer attention.

Bollinger Bands

Volatility increased as the Bollinger Bands expanded, with price spending the last half of the session near the upper band. This suggests strong bullish conviction among traders. The contraction phase occurred early in the session, setting the stage for a breakout that materialized later.

Volume & Turnover

Volume spiked significantly during the breakout phase, particularly in the 17:45–18:15 ET window, confirming the move above key resistance. Notional turnover also surged in tandem, eliminating any divergence between price and volume. The 0.2111–0.2166 reversal showed high volume during the bullish engulfing pattern, adding credibility to the trend continuation.

Fibonacci Retracements

Applying Fibonacci to the recent 15-minute swing from 0.2045 to 0.2263, price found support at the 61.8% level (~0.2139) and resistance at the 38.2% level (~0.2179). On the daily chart, the 61.8% retracement of a larger bullish move (~0.2147–0.2232) coincided with the 50-period MA, reinforcing the importance of this level.

Backtest Hypothesis

To refine a bullish strategy based on this session’s activity, a backtest using the Bullish Engulfing pattern would be valuable. Since the pattern was confirmed on the 15-minute chart at 0.2111–0.2166, testing the performance of a strategy that enters long on confirmation and holds for 1 day could yield useful insights. However, the data engine currently lacks the base information for “CELOUSDT” as specified. To proceed, I recommend confirming the correct symbol format (e.g., “BINANCE:CELOUSDT” or “CELO/USDT”), or alternatively, providing your own list of Bullish Engulfing dates for testing. This would allow for a backtest from 2022-01-01 to 2025-11-05, including performance metrics such as win rate, average return, and drawdowns.