Market Overview for Celer Network/Tether (CELRUSDT)

• Price action showed a bearish reversal near $0.00812 after a morning breakout.
• RSI moved into overbought territory but failed to confirm a sustained rally.
• Bollinger Bands widened as volatility surged, with price near the upper band.
• Volume spiked during the late morning push to $0.00828, signaling aggressive buying.
• A long-legged doji near $0.00817 suggests indecision and potential support clustering.

At 12:00 ET on 2025-09-21, Celer Network/Tether (CELRUSDT) opened at $0.00809, reached a high of $0.00828, and a low of $0.00804, closing at $0.00807. Over the 24-hour window, total volume was approximately 34,922,396 CELR, and notional turnover was $280,951.

The candlestick pattern over the past 24 hours revealed a bullish breakout followed by a sharp reversal. The initial morning rally from $0.00809 to $0.00828 saw strong volume and momentum, with a long white candle closing near the high. However, this was quickly met with a bearish counterattack, culminating in a long-legged doji at $0.00817, suggesting a potential consolidation or reversal point. Key support appears to have emerged at $0.00808–$0.00809, while resistance remains at $0.00815–$0.00817 based on recent candlestick rejections.

Structure & Formations

The price structure over the last 24 hours reveals a distinct short-term consolidation phase after a sharp rally. A bullish engulfing pattern emerged at $0.00813–$0.00815, followed by a long-legged doji that failed to close above the high of that candle, signaling potential hesitation from buyers. The 20-period and 50-period moving averages on the 15-minute chart crossed during the rally, reinforcing the initial bullish momentum. However, as the price retreated, the 50-period line now sits above the 20-period, hinting at potential bearish pressure. Key support levels identified include $0.00808 (immediate) and $0.00805, while resistance remains clustered at $0.00815 and $0.00817.

MACD & RSI

The 15-minute MACD line crossed above the signal line during the morning rally, confirming a short-term bullish bias. However, it has since crossed back below the signal line, indicating weakening momentum. The RSI moved into overbought territory above 70 during the peak of the rally but subsequently dropped to around 50–55, suggesting a possible exhaustion in the upward thrust. While the RSI is still within neutral territory, the divergence between the price high and the RSI peak hints at a potential correction or consolidation phase.

Bollinger Bands

The Bollinger Bands have widened significantly as a result of the recent price action, with volatility spiking during the rally and subsequent pullback. At the time of the $0.00828 high, the price approached the upper band, suggesting overbought conditions. The subsequent pullback saw the price settle just above the 20-period moving average, within the bands but below the midline. The widening bands indicate increased uncertainty, and if the price holds above $0.00808, a potential rebound toward $0.00815 could follow.

Volume & Turnover

Volume spiked during the morning rally, with the peak occurring around 07:30–08:00 ET as the price surged to $0.00828. This was followed by a smaller but sustained volume during the bearish correction, indicating active participation from both buyers and sellers. Notional turnover (volume × price) also increased during the peak rally but has since decreased, suggesting that the aggressive buying pressure may be waning. A divergence between the price and volume during the correction phase suggests that bearish selling may not be fully confirmed.

Fibonacci Retracements

Applying Fibonacci retracements to the recent swing from $0.00804 to $0.00828, key levels of interest are the 38.2% at $0.00816 and 61.8% at $0.00812. The current price at $0.00807 is below the 61.8% retracement, suggesting a potential short-term bounce back toward $0.00812–$0.00815 could be on the cards. The failure to close above $0.00815 on several occasions indicates this level is acting as a strong resistance.

Backtest Hypothesis

Given the recent reversal pattern and Fibonacci levels, a backtest strategy could involve entering a long position on a close above $0.00812, with a stop-loss placed below $0.00808. A take-profit target could be set at the 38.2% Fibonacci level at $0.00816. This approach would leverage the immediate support/resistance structure and attempt to capture a rebound off the 61.8% retracement. The RSI divergence and volume divergence also support the likelihood of a near-term bounce rather than a continuation of the downward trend.