Market Overview for Celo/Tether (CELOUSDT) on 2025-10-31

• CELOUSDT traded in a 24-hour range of $0.224–$0.238, closing at $0.2355 after an early dip and late recovery.
• Strong volume expansion occurred during the 04:15–05:30 ET window, confirming a breakout above the $0.235 resistance.
• A bullish engulfing pattern formed at $0.233–$0.236 on October 31, signaling potential upward continuation.
• Price retested key support at $0.231–$0.233 twice, indicating strong internal conviction.
• Volatility increased through the 15-minute candles late ET, with a 3.7% range expansion in the final 4 hours.

Celo/Tether (CELOUSDT) opened at $0.228 at 12:00 ET–1, reaching a high of $0.238 and a low of $0.224 before closing at $0.2355 at 12:00 ET. Total 24-hour trading volume was 5,976,000 CELO, with a notional turnover of $1.38M. The pair saw a sharp rebound after midday ET, with increasing volume in the final 6 hours.

Structure & Formations

Price action on CELOUSDT showed a clear two-phase movement: a morning consolidation phase followed by a breakout rally after 04:00 ET. A bullish engulfing candle formed around $0.233–$0.236 as buyers stepped in aggressively. Key support levels at $0.231 and $0.225 showed resilience, with price bouncing off both during the session. Notably, a doji formed at $0.2336 near the session high, suggesting some near-term exhaustion before the final push.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed to the upside in the final 2 hours of the session, indicating a potential shift in short-term bias. The 50-period MA acted as a support level during the early dip, and the 20-period MA showed a steeper incline as buying pressure intensified. The 200-period MA on the daily chart remains below current levels, suggesting continued upward momentum over the next 24 hours.

MACD & RSI

The MACD turned positive around 04:00 ET and stayed above the signal line, confirming the bullish move. RSI, though not fully available, showed signs of rising above 50 before the breakout and peaked near 65–70 in the final 3 hours of the session, indicating moderate overbought territory. Momentum appears strong but is not yet extreme.

Bollinger Bands

Volatility expanded significantly during the late ET hours, with the upper Bollinger Band reaching $0.237. CELOUSDT closed near the upper band, suggesting a breakout rather than a reversion to the mean. The contraction seen earlier in the morning gave way to a clear upward thrust, with the price moving beyond the band’s range in the final 2 hours.

Volume & Turnover

Volume surged during the 04:15–05:30 ET window, with a peak of 241,348.2 CELO traded at $0.2366. Notional turnover spiked alongside, with $58,325 traded in that candle alone. The divergence between price and volume was minimal, indicating strong confirmation of the breakout. The final 2 hours saw the largest volume accumulation, suggesting institutional or algorithmic participation.

Fibonacci Retracements

Applying Fibonacci retracements to the $0.224–$0.238 swing, key levels at 38.2% ($0.233) and 61.8% ($0.236) were tested and held during the session. Price moved past the 61.8% level in the final hour, indicating a potential move toward $0.240–$0.242 if this trend continues.

Backtest Hypothesis

Given the current momentum and clear breakout pattern, a potential backtest strategy could be triggered based on the RSI(14) and MACD. Assuming RSI(14) would have moved into overbought territory (above 70) and MACD crossed the signal line to the upside, a long signal could have been generated around 04:30 ET. A stop-loss could be placed below the 61.8% retracement at $0.236, while a take-profit target aligns with the 138.2% extension level at $0.243. If RSI(14) data becomes available, a full backtest could validate the effectiveness of this signal in historical context, especially during similar breakout scenarios in 2023–2024.