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Summary
• Price declined from $0.0315 to $0.0295, breaching key support levels on 5-minute chart.
• High volume surge at $0.0303–$0.0307 suggests potential short-term congestion.
• RSI indicates oversold conditions, while MACD shows weakening bearish momentum.
Cetus Protocol/Tether (CETUSUSDT) opened at $0.0313 (12:00 ET–1), reached a high of $0.0315, and closed at $0.0295 by 12:00 ET today. The total 24-hour volume was ~7.7 million, with notional turnover amounting to ~$239,500.
Structure & Formations
The 5-minute chart shows multiple breakdowns below $0.0307, a previous minor support that now acts as resistance. A bearish engulfing pattern appears at $0.0303–$0.0302, signaling bearish bias. A doji near $0.0299 suggests indecision as the price approaches potential oversold territory.
Moving Averages
Price has fallen below both 20- and 50-period SMAs on the 5-minute chart, reinforcing the downward bias. Daily MAs remain neutral, though the 50/100/200 SMA alignment is yet to show a clear trend.
MACD & RSI
The 5-minute MACD shows bearish divergence with price, as the histogram contracts despite continued declines. RSI is in oversold territory (below 30) on the 5-minute chart, hinting at possible near-term stabilisation or a bounce.
**

Bollinger Bands
Volatility increased sharply from $0.0307 to $0.0295, with price hitting the lower Bollinger band. This indicates a significant selloff and possible reversion towards the 20-period SMA.
Volume & Turnover
Volume increased sharply during the selloff from $0.0307 to $0.0299, confirming bearish momentum. Turnover also spiked during this period, aligning with price action and reinforcing the move. Divergences are absent, suggesting the move is conviction-driven.
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Fibonacci Retracements
A 61.8% retracement of the recent $0.0315–$0.0295 move places support near $0.0301, which appears to be a key level for near-term buyers. A bounce from this level could signal a temporary pause in the downtrend.
Price appears to be consolidating near key Fibonacci and Bollinger levels, with oversold RSI suggesting a short-term bounce is possible. However, given the breakdown below critical support levels and bearish divergence, further downside into $0.0295–$0.0290 could be a risk in the next 24 hours.
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