Market Overview: Celo/Tether USDt (CELOUSDT) — Bullish Momentum Amid Volatility

• CELOUSDT posted a 24-hour high of $0.3140 and closed near a multi-hour high of $0.3131, showing bullish momentum.
• Volume spiked to 207,396.7 at the 15:45 ET peak, confirming a sharp upward thrust.
• Bollinger Bands widened, indicating increasing volatility and a breakout potential.
• RSI reached 57, suggesting moderate strength, while MACD turned positive after midday.
• Fibonacci retracement levels at 0.3118 and 0.3095 were briefly tested before the breakout.

Celo/Tether USDt (CELOUSDT) opened at $0.3046 on 2025-09-09 at 12:00 ET, reached a high of $0.3140, and closed at $0.3131 at 12:00 ET on 2025-09-10. Total volume for the 24-hour period was 1,336,040.9 CELO, with notional turnover totaling $412,777.09.

Structure & Formations

The 15-minute chart showed a strong bullish reversal forming from the 0.3030–0.3045 consolidation range, with a key breakout above 0.3070. A hammer pattern formed at 09:30 ET, signaling potential bullish exhaustion in the downtrend. Resistance levels emerged at 0.3070, 0.3100, and 0.3120, with the latter acting as a key breakout zone. A large bullish engulfing pattern formed at the 14:30 ET and 14:45 ET candles, confirming renewed bullish sentiment.

Moving Averages

On the 15-minute chart, the price closed above both the 20SMA ($0.3093) and 50SMA ($0.3087), indicating bullish momentum. On the daily timeframe, the price remained above the 50DMA and 100DMA but just below the 200DMA, suggesting intermediate-term strength amid longer-term caution.

MACD & RSI

MACD turned positive at midday, with a histogram expansion signaling growing bullish momentum. RSI rose to 57, indicating moderate strength, though not yet overbought. A divergence between RSI and price was not evident, suggesting the rally remains aligned with momentum.

Bollinger Bands

Bollinger Bands expanded significantly after midday, indicating rising volatility. Price closed above the upper band, signaling a potential breakout confirmation. The upper band sat at $0.3135 at 12:00 ET, suggesting further upward potential unless the bands contract again.

Volume & Turnover

Volume spiked sharply at 14:45 ET, with a notional turnover of $66,041.94 in a single candle. This aligns with the breakout above 0.3120. Notably, volume was generally higher on bullish candles, especially during the afternoon and early evening.

Fibonacci Retracements

Fibonacci retracement levels were drawn from the 0.3030–0.3140 swing. Price tested the 61.8% level at $0.3118 and then surged past the 78.6% level at $0.3130 before closing near $0.3131. This suggests strong bullish conviction.

Backtest Hypothesis

The backtest strategy involves entering long positions when price closes above the 50SMA on a 15-minute chart and RSI crosses above 50, with a stop loss placed below the 20SMA. The 14:45 ET candle met both criteria and could serve as a valid entry point. Given the strong volume confirmation, this setup may offer a favorable risk-reward profile for a short-term trade.