Market Overview: Celer Network (CELRUSDT)

• Price declined from 0.00931 to 0.00884 on the 24-hour chart, forming bearish patterns.
• Momentum slowed after a sharp drop, with RSI near oversold territory.
• Volatility expanded early, followed by consolidation into tighter ranges.
• Volume surged in early ET hours but declined in the final 12 hours.
• Bollinger Bands showed price containment with a possible breakout at key levels.

Celer Network (CELRUSDT) opened at $0.00888 and traded between $0.00875 and $0.00931 over the 24-hour period, closing at $0.00903 at 12:00 ET. Total volume amounted to 511,680,551.9 units, and notional turnover reached $4,594,428. The market showed early volatility but later consolidated, suggesting possible exhaustion of bearish momentum.

Structure & Formations

The price declined from a morning high of $0.00931 to a 24-hour low of $0.00875. A notable bearish engulfing pattern formed around $0.00904–$0.00892, reinforcing the downward move. A key support level appears to be forming near $0.00884, where price has tested multiple times. A potential resistance appears at $0.00916–$0.00928.

Moving Averages

On the 15-minute chart, the 20- and 50-period SMAs both slope downward, confirming a bearish bias. Price is currently below both. On the daily chart, the 50- and 200-day SMAs may converge as a critical resistance barrier in the near future, which could delay or accelerate a reversal.

MACD & RSI

The MACD line crossed below the signal line, confirming bearish momentum. RSI dropped into the 30–35 range, suggesting the market may be oversold, though a reversal is not certain without confirmation. A bullish crossover on the MACD could signal a short-term rebound.

Bollinger Bands

Price expanded beyond the lower Bollinger Band earlier in the day, confirming a strong bearish move. However, in the last 12 hours, it consolidated within a tighter range. A breakout above the midline could indicate a temporary reversal, while a break below the lower band would suggest continued downward pressure.

Volume & Turnover

Volume spiked early in the morning ET, with a peak of 70.8M units, confirming the sharp selloff. However, volume decreased significantly after 19:00 ET, indicating reduced bearish conviction. Notional turnover aligned with price, but a divergence may hint at fading momentum as the session progresses.

Fibonacci Retracements

On the 15-minute chart, the price retested the 38.2% and 61.8% levels between $0.00896 and $0.00887, suggesting key areas of interest. If the price breaks above $0.00904–$0.00907, Fibonacci levels could offer temporary resistance, but a sustained move above $0.00916 would require higher conviction.

Celer Network appears to be in a consolidation phase after a sharp correction. A test of the $0.00907–$0.00912 range may determine the next direction. Traders should watch for volume confirmation at key support/resistance levels. A break below $0.00884 could lead to further declines, while a recovery above $0.00915 may attract bullish follow-through. As always, position sizing and stop-loss placement are crucial in volatile conditions.