Market Overview: Cetus Protocol (CETUSUSDT) 24-Hour Price Action and Technical Implications
2min read
Aime Summary• Cetus Protocol declined 13.8% in the last 24 hours, with bearish momentum intensifying after a sharp breakdown below key support levels.
• Volatility surged, with Bollinger Bands expanding and volume spiking during the key 19:00–20:30 ET sell-off.
• A bearish engulfing pattern formed at 0.1116–0.109, suggesting short-term continuation of downward bias.
• RSI entered oversold territory near 28, but price remains under pressure, signaling possible further downside.
• Fibonacci levels at 0.1064 and 0.1046 appear critical for near-term support.
Cetus Protocol (CETUSUSDT) opened at 0.112 on 2025-07-23 at 12:00 ET, reached a high of 0.1133, and closed at 0.1056 on 2025-07-24 at 12:00 ET. Total volume for the 24-hour period was 56,322,682.2 units, with a notional turnover of approximately 5,836,236
.Structure & Formations
The price action exhibited a strong bearish bias, with a key breakdown occurring at 0.1116, followed by a sharp descent into the 0.109–0.106 range. A bearish engulfing pattern formed during the 19:00–20:30 ET window, confirming a shift in sentiment from cautious to bearish. The 0.1062–0.1069 support zone appears to be the next critical level, with a potential test of the 0.1046 Fibonacci level if the selloff continues.
Moving Averages
On the 15-minute chart, the 20-period and 50-period moving averages have both turned downward, aligning with the bearish trend. The daily chart shows the 50-period MA at a slight discount to the 100 and 200-period MAs, suggesting a medium-term bearish setup. Price remains well below all key moving averages, reinforcing the downward bias.
MACD & RSI
The MACD turned negative during the early afternoon, with bearish divergence forming as price made lower highs while the MACD failed to confirm. RSI has entered oversold territory near 28, but without a clear reversal pattern or volume confirmation, this may not be a reliable entry point. Momentum remains on the downside, with RSI likely to remain in the 20–30 range unless a strong bullish reversal occurs.
Bollinger Bands
Bollinger Bands have expanded significantly during the sell-off, particularly between 19:00–20:30 ET, indicating a period of heightened volatility. Price has remained below the 20-period lower band for much of the 24-hour period, suggesting a continuation of bearish momentum. A rebound above the lower band could indicate a short-term bounce, but this would require a substantial increase in buying pressure.
Volume & Turnover
Volume spiked sharply during the breakdown at 0.1116 and again during the 19:00–20:30 ET sell-off, confirming the move lower. Turnover also increased significantly during this time, with the highest single 15-minute turnover of 1.84 million USDT occurring at 20:45 ET. No clear divergence between price and volume was observed, suggesting the selloff is well-supported by liquidity.
Fibonacci Retracements
Applying Fibonacci retracement levels to the 0.112–0.1066 swing, key levels at 0.1085 (38.2%), 0.1074 (50%), and 0.1064 (61.8%) have all been tested. The 0.1046 level (78.6%) is now in play as the next potential support. A break below 0.1046 would suggest a test of the 0.1021 level seen earlier in the week.
The market appears to be in a consolidation phase following a sharp sell-off, with bearish momentum likely to persist in the near term. A test of the 0.1046–0.1021 range could occur if the selloff continues, though a short-term rebound is possible if the 0.1062–0.1069 support holds. Investors should remain cautious of further downside risk and monitor volume and RSI for signs of a potential reversal.
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