Market Overview for Celo (CELOUSDT) on 2025-07-19

Celo (CELOUSDT) opened at $0.3503 on 2025-07-18 at 12:00 ET, reached a high of $0.3567, touched a low of $0.3401, and closed at $0.3432 as of 12:00 ET on 2025-07-19. Total volume was 3,886,427.3 CELO, with a notional turnover of $1,336,551.90 over the 24-hour period.

Summary

• Price declined from a morning high of $0.3567 to a 24-hour low of $0.3401, forming bearish momentum.
• A bearish engulfing pattern emerged near $0.352–$0.354, signaling potential reversal.
• Volatility expanded in the afternoon as price traded within a $0.016 range.
• Turnover increased during the afternoon selloff, confirming bearish sentiment.
• RSI dipped into oversold territory by the close, hinting at potential short-term bounce.

Structure & Formations

Price action on the 15-minute chart showed a clear bearish trend with a key resistance at $0.354–0.356 and a support level forming at $0.343–0.345. A bearish engulfing pattern developed around $0.352–0.354, suggesting a short-term reversal. A morning breakout attempt at $0.3567 failed, leading to a pullback. A strong rejection at $0.343–0.345 in the final hours of the period reinforced a possible short-term support.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended downward, with price staying below both. On the daily timeframe, the 50-period MA was at $0.348, the 100-period at $0.351, and the 200-period at $0.355, indicating a bearish bias in the broader context. Price closed below all three, suggesting a potential continuation of the downtrend.

MACD & RSI

The MACD turned negative midday and remained below zero, signaling bearish momentum. The RSI dropped to 32 by the close, entering oversold territory, which could indicate a potential bounce in the near term. However, the lack of a bullish divergence between price and RSI suggests the bearish pressure may still dominate.

Bollinger Bands

Volatility expanded in the afternoon as the bands widened. Price traded near the lower band for much of the session, particularly in the 14:00–16:00 ET window. The move to the lower band and the RSI hitting oversold levels suggests a possible short-term rebound, though a break below the $0.340 support would indicate further weakness.

Volume & Turnover

Volume spiked during the afternoon selloff, especially between 14:00 and 16:00 ET, when price fell from $0.346 to $0.340. Notional turnover increased in line with volume, confirming the bearish move. However, volume declined during the final 2–3 hours, suggesting a potential exhaustion of selling pressure. A divergence between price and volume in the last hour may indicate a short-term reversal.

Fibonacci Retracements

Applying Fibonacci to the recent 15-minute swing from $0.3567 to $0.3401, the 38.2% retracement level was at $0.3485, and the 61.8% at $0.3448. Price found support near the 61.8% level, suggesting that further declines may be limited unless the key support at $0.343–0.345 is breached.

Forward-Looking View

CELO may find temporary support near $0.343–0.345 in the next 24 hours, with RSI in oversold territory suggesting a potential bounce. However, a break below $0.340 could reignite bearish momentum. Investors should monitor volume and price behavior near key Fibonacci levels and be cautious of a continuation of the broader downtrend.