Market Overview for Celo/Tether (CELOUSDT) – 24-Hour Analysis as of 2025-10-30

• Price declined 24-hour low to 0.2280, showing bearish momentum.
• Volatility expanded with a 0.0203 range and high turnover of $15.8M.
• RSI and MACD suggest overbought conditions were unwound in late hours.
• Volume spiked during sharp declines, confirming bearish pressure.

At 12:00 ET–1 on 2025-10-29, CELOUSDT opened at 0.2485, peaked at 0.2617, and closed at 0.2280 at 12:00 ET on 2025-10-30. The 24-hour total volume was 50,938,744.3 CELO, with a notional turnover of approximately $15.8M. A sharp bearish move dominated the session, particularly after 19:00 ET, where price dropped nearly 5% in under 90 minutes.

Structure & Formations

The price action revealed a strong bearish bias throughout the session, with a key breakout below the 0.2480 support level. A bearish engulfing pattern formed around 18:45 ET, followed by a sharp drop. A potential short-term resistance re-emerged near 0.2525, where the price stalled multiple times. The 0.2460 level acted as a temporary support during early hours but was decisively broken in the evening, suggesting further downside could follow.

Moving Averages & Momentum

On the 15-minute chart, the 20-period MA trended downward through most of the session, aligning with the bearish bias. The 50-period MA crossed below key price levels in the late hours, indicating bearish confirmation. RSI dipped below 30, signaling oversold conditions, while the MACD line crossed below the signal line mid-session, reinforcing bearish momentum. The histogram showed a consistent decay in bullish momentum from 18:00 ET onward.

Bollinger Bands & Volatility

Volatility spiked during the sharp declines, causing price to break below the lower Bollinger Band and remain compressed near that level for much of the day. A contraction phase occurred before 18:00 ET, followed by a breakout to the downside, which signaled a potential continuation of bearish pressure.

Volume & Turnover

Volume surged during the critical 18:45–19:15 ET window, coinciding with the 0.2460 support breakdown. Turnover rose to over $1.2M per 15-minute interval during the sell-off, confirming the bearish move. Price and volume aligned well, with no divergence noted.

Fibonacci Retracements

Applying Fibonacci to the key 0.2280–0.2617 swing, the 61.8% level sits at 0.2452, which was tested multiple times but ultimately failed to hold. The 38.2% level at 0.2509 also failed to act as a strong barrier. This suggests further testing of lower retracements or even a potential extension beyond the 0.2280 low.

Backtest Hypothesis

A backtest based on Bearish Engulfing patterns could be a viable strategy for CELO/USDT, given the strong bearish pressure observed in recent hours. A potential approach would involve identifying Bearish Engulfing candles (where the body of the bearish candle fully engulfs the previous bullish candle) and entering a short position at the close of the engulfing candle with a stop-loss above the high of the engulfing pattern. A target could be set based on Fibonacci retracements or prior support levels.

Given the recent data, a Bearish Engulfing formed at 18:45 ET, which preceded a strong sell-off. Testing this pattern against historical data could help evaluate its predictive power and optimize risk-reward ratios. This would require access to a clean OHLC dataset for CELOUSDT in the correct format, ideally at the 15-minute interval.