Market Overview: Cetus Protocol/Tether (CETUSUSDT) 24-Hour Price Action

Summary
• Price drifted lower through the day with a bearish engulfing pattern near the session high.
• RSI and MACD signal fading momentum and potential oversold conditions near 0.0289.
• Volatility expanded after 04:00 ET, but volume failed to confirm a breakout.
• Bollinger Bands widened, with price closing near the lower band.
• Fibonacci levels suggest potential support consolidation around 0.0291.

Cetus Protocol/Tether (CETUSUSDT) opened at 0.0299 on 2025-12-08 12:00 ET, reaching a high of 0.03 and a low of 0.0288, before closing at 0.0292 on 2025-12-09 12:00 ET. Total 24-hour volume was 9,317,972.5, with turnover of approximately $273,000.

Structure & Formations

Price action revealed a bearish bias throughout the session, with a bearish engulfing pattern forming near the high of 0.03 in early afternoon. A doji near 0.0291 at 00:45 ET signaled indecision. The 0.0292–0.0294 range appears to be the immediate support zone, with resistance forming around 0.0296–0.0298.

Moving Averages

On the 5-minute chart, the price closed below both the 20- and 50-period moving averages, reinforcing the bearish tilt. Daily moving averages (50/100/200) were not available for calculation from the provided data but would be key to confirm longer-term direction.

MACD & RSI

RSI dipped into oversold territory near 0.0289 in the early hours, suggesting potential support. MACD lines flattened and diverged from price action after 03:00 ET, indicating a possible slowdown in the downward trend.

Bollinger Bands

Volatility expanded after 04:00 ET, pushing the bands wider. Price closed near the lower band, a sign that a rebound could be in play. However, the lack of volume during the rebound raises questions about the strength of this move.

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Volume & Turnover

Volume spiked twice—once during the initial bearish move and again around 03:30–04:30 ET—suggesting two distinct selling phases. However, turnover during these periods was relatively muted, indicating a lack of conviction in the bearish bias.

Fibonacci Retracements

The 38.2% Fibonacci level at 0.0294 and the 61.8% level at 0.0291 appear to have acted as key levels, with price finding short-term support and resistance around these levels. A break below 0.0289 would target the next level at 0.0286.

CETUSUSDT appears to be consolidating near key support levels, suggesting a potential bounce could be in play. However, a breakdown below 0.0289 could extend the decline. Investors should remain cautious given the fading momentum and potential for increased volatility in the next 24 hours.