Market Overview: Cetus Protocol/Tether (CETUSUSDT) – 24-Hour Technical Snapshot

Summary
• Price drifted in a narrow range with a late-night breakout and consolidation.
• Volume surged into the overnight hours, confirming bullish momentum.
• RSI near overbought territory, but no clear reversal patterns emerged.

CETUSUSDT 24-Hour Summary

Cetus Protocol/Tether (CETUSUSDT) opened at $0.0414 on 2025-11-08 12:00 ET and traded in a range between $0.0401 and $0.0425 over the next 24 hours, closing at $0.0426 at 12:00 ET on 2025-11-09. The pair saw total volume of 8,054,254.9 and a notional turnover of $335,903.44, indicating moderate but sustained interest. Price action shows a gradual climb supported by volume expansion.

Structure & Formations

The 15-minute chart shows a series of bullish consolidation patterns in the early part of the 24-hour window, followed by a sharp upward thrust from 2025-1109 15:00 ET onward. Notable patterns include a bullish engulfing formation at $0.0420, followed by a higher high and higher close formation after 16:00 ET. Key support levels were identified at $0.0410 and $0.0405, with resistance forming at $0.0425 and $0.0428. A potential bearish divergence was observed between volume and price during the 04:30–06:00 ET consolidation phase, which was later negated by a strong rebound.

Moving Averages

On the 15-minute chart, the 20-EMA and 50-EMA remained in a bullish crossover throughout the late-night and morning hours, reinforcing the upward bias. By 16:00 ET, the 50-EMA caught up with the price, suggesting a continuation of the bullish trend. On the daily chart, the 50-EMA crossed above the 100-EMA during the previous 24-hour session, reinforcing the longer-term bullish bias.

MACD & RSI

The MACD histogram displayed positive divergence and expanding bullish momentum after 15:00 ET, with both MACD lines above the zero line. The RSI hit overbought levels (above 70) in the late afternoon, but it remained elevated without forming bearish reversal patterns. This suggests the upward move may persist unless a clear reversal signal appears.

Bollinger Bands

Price broke out of the upper Bollinger Band at 16:00 ET, indicating a period of high volatility. The band contraction earlier in the morning had hinted at a potential breakout, and the current move above the upper band confirms that bullish momentum is intact.

Volume & Turnover

Volume surged significantly after 15:00 ET, confirming the breakout. The highest volume spike occurred at $0.0420–$0.0425, with turnover increasing from $45k to over $100k per candle. There was a divergence between price and volume during the 05:00–07:00 ET consolidation phase, but it was quickly resolved by renewed volume at the higher end of the trading range.

Fibonacci Retracements

Applying Fibonacci to the 0.0405–0.0425 swing on the 15-minute chart, price currently sits just above the 61.8% retrace level at $0.0420, suggesting a potential target for further bullish movement could be the 78.6% level at $0.0430. On the daily chart, the 50% and 61.8% retracement levels align with the current price area, reinforcing the notion that this breakout may have legs.

Backtest Hypothesis

The technical indicators used in this analysis align with pattern-based strategies, particularly those focused on bullish continuation and breakout signals. For example, the bullish engulfing pattern observed at $0.0420 closely mirrors the criteria used in the described backtest on Bullish Engulfing signals for BLSH.N. Such patterns are often high-probability setups when confirmed by volume and momentum indicators like RSI and MACD. The results from the Bullish Engulfing strategy suggest that short-term traders may benefit from a systematic approach that combines pattern recognition with clear exit rules.