Summary
• Price surged past $0.1150 amid rising volume and bullish momentum.
• Key resistance at $0.1159 tested, with potential for a breakout or pullback.
• RSI near overbought territory suggests caution, while volume confirms strength.
• Volatility expanded in early hours, with Bollinger Bands widening above $0.1165.
• Bullish engulfing patterns emerged near $0.1140, indicating possible buying pressure.
Celo/Tether opened at $0.1136 on 2025-12-23 12:00 ET, reached a high of $0.1169, touched a low of $0.1118, and closed at $0.1169 on 2025-12-24 12:00 ET. Total volume amounted to 5,895,898.6, with a notional turnover of $654,492. The asset displayed strong bullish bias through much of the 24-hour window.
Structure & Formations
The price formed a bullish engulfing pattern near $0.1140, suggesting potential support retesting. A strong breakout above $0.1159 could target the upper Bollinger Band at $0.1165. A doji near $0.1152 indicates indecision, while the 20-period moving average supports the recent upward trend.
Moving Averages and Momentum
The 20-period and 50-period moving averages on the 5-minute chart remain below the price, reinforcing the bullish bias. RSI approached overbought levels near 70, suggesting a potential consolidation phase. The MACD remained positive, with the signal line rising, indicating sustained momentum.
Volatility and Volume
Bollinger Bands expanded significantly during the late afternoon, showing a surge in volatility. Volume spiked during the breakout above $0.1159, with high turnover reinforcing the move. A volume divergence was noted near $0.1145, where price pulled back but volume remained strong, hinting at potential follow-through.
Looking ahead, the price may test $0.1168–0.1170 as the next key resistance level if buyers hold. However, a retest of the $0.1140–0.1145 range could trigger a correction if RSI fails to hold above 50. Investors should remain cautious of potential overbought conditions and watch for divergence in momentum indicators.
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