Market Overview for Celo/Tether (CELOUSDT) – 2026-01-05

Summary
• Price declined from 0.1317 to 0.1249 with strong bearish momentum visible in intraday trends.
• A sharp sell-off occurred after 04:30 ET, with volume surging during the decline.
• RSI and MACD confirmed bearish bias, with price nearing key Fibonacci support at 0.1242–0.1239.
• Bollinger Bands widened during the selloff, reflecting elevated volatility.
• Volume and turnover diverged during the rally from 14:45 ET, signaling potential weakness.

Celo/Tether (CELOUSDT) opened at 0.1316 on 2026-01-04 at 12:00 ET and closed at 0.1249 by 12:00 ET the next day. The pair hit a high of 0.1317 and a low of 0.1232. Total trading volume over 24 hours was 10,041,261.1, while notional turnover reached 1,266,086.22.

Structure & Formations

Price action showed a clear bearish bias throughout the 24-hour window, with a sharp breakdown occurring after 04:30 ET. A key support level was identified at 0.1242–0.1239, where price bounced slightly. A bearish engulfing pattern appeared near the high at 0.1317, suggesting a shift in sentiment. A doji formed near 0.1293–0.1294, indicating indecision before a further decline.

Moving Averages

On the 5-minute chart, the 20SMA and 50SMA were in a bearish crossover, reinforcing the downward trend. The 50EMA, 100EMA, and 200EMA on the daily chart all showed a strong bearish alignment, confirming continuation of the longer-term downtrend.

MACD & RSI

The MACD crossed below zero and remained negative, with bearish divergence evident during the rally from 14:45 ET. The RSI dropped below 30, indicating oversold conditions, though it failed to trigger a meaningful rebound. This suggests that bearish momentum may continue unless a bullish reversal pattern emerges.

Bollinger Bands

Bollinger Bands widened significantly during the sharp selloff, indicating rising volatility. Price closed near the lower band at 0.1249, suggesting a continuation of the downward pressure. However, a sustained close above the upper band during a potential rebound would indicate a short-term reversal.

Volume & Turnover

Volume spiked during the sell-off from 0.1303 to 0.1269 between 04:30 and 06:00 ET, confirming the bearish move. Turnover followed a similar trajectory, with a divergence emerging during the rally from 14:45 to 16:00 ET, suggesting weak buying interest. This divergence may hint at an overextended move and potential exhaustion of buyers.

Fibonacci Retracements

Fibonacci levels applied to the recent 5-minute swing (0.1317 to 0.1232) identified key support at 0.1285 (38.2%) and 0.1268 (61.8%), both of which were tested and broken. On the daily chart, the 0.1242–0.1239 level aligns with the 61.8% Fibonacci retracement of the larger move from 0.1312 to 0.1232. A break below 0.1232 could trigger a test of the next support at 0.1218.

Price appears to be in a strong bearish phase, supported by key technical indicators. A short-term rebound is possible if 0.1242–0.1239 holds, but a break below 0.1232 could extend the correction. Investors should remain cautious and watch for a potential divergence in volume and momentum signals in the next 24 hours.