Celer Network (CELRUSDT) Experiences a Bullish Breakout
Celer Network (CELRUSDT) witnessed a significant bullish breakout above the 0.00810 mark, supported by robust trading volume during the early hours of trading. This breakout was followed by a period of consolidation, indicating a potential stabilization after the initial surge.
Price Movement and Intraday Momentum
During the Asian and European trading sessions, the momentum for CELRUSDT surged, culminating in a 24-hour peak at 0.00845 before experiencing a retracement. This heightened activity reflects increased trader interest and market engagement.
Increased Volatility and Market Signals
The overnight trading session saw a considerable rise in volatility, characterized by widening Bollinger Bands and the Relative Strength Index (RSI) reaching overbought levels at 85. Such conditions often indicate a potential for price corrections, as the market may be overheated.
Volume Trends Indicate Potential Exhaustion
While trading volume spiked during the breakout, it began to taper off as the afternoon progressed, hinting at a possible exhaustion of buying pressure. This decrease in volume can suggest a waning bullish momentum as traders reassess their positions.
Bearish Divergence Signals Caution
A bearish divergence was noted in the RSI indicator, which occurred despite a higher closing price. This divergence serves as a cautionary signal, suggesting that the upward trend may not continue in the near term.
Trading Activity Overview
On August 10, 2025, CELRUSDT opened at $0.00809, peaked at $0.00845, and closed at $0.00791 on August 11, 2025. The total trading volume for this period was recorded at 20.6 million CELR, with a notional turnover of $165.2K, highlighting significant market activity.
Price Structure and Formations
The price action for Celer Network exhibited a strong bullish breakout above the psychological resistance level of 0.00810, closing with a large-volume candle at 0.00813. Following this breakout, a consolidation phase developed between 0.00810 and 0.00830, culminating in a double-top pattern near 0.00845. A bearish reversal candle was noted at 0.00844, indicating selling pressure, with key support levels identified at 0.00807 and 0.00800.
Moving Averages Analysis
According to the 15-minute chart, both the 20-period and 50-period moving averages crossed above the 0.00810 level, reinforcing the bullish sentiment during the early surge. However, by late afternoon, the 50-period simple moving average (SMA) fell below the 20-period SMA, suggesting the emergence of bearish momentum. On the daily chart, the alignment of the 50-period, 100-period, and 200-period moving averages indicated a longer-term bullish outlook for CELRUSDT.
MACD and RSI Insights
The MACD indicator crossed above its signal line just prior to the breakout, confirming the bullish momentum. The RSI initially surged into overbought territory around 85 but decreased to 55 by midday, aligning with a period of price consolidation. A bearish divergence began to form as the price closed higher while the RSI recorded a lower high, indicating a potential loss of momentum.
Bollinger Bands Analysis
The Bollinger Bands showed a marked expansion overnight as volatility surged during the breakout, with prices reaching a high of 0.00845 near the upper band. Midday saw the bands contract, signaling a reduction in volatility. By the end of the 24-hour trading period, the price settled near the midpoint of the bands, indicating a neutral market stance following the earlier fluctuations.
Volume and Turnover Observations
Trading volume experienced a sharp increase during the breakout, with a notable 15-minute candle at 00:30 ET recording 1.63 million CELR traded and a turnover of $13.2K, marking the day’s peak. However, volume gradually diminished during the afternoon and evening, even as prices remained close to the 24-hour high. This divergence between volume and price suggests a weakening conviction behind the bullish trend.
Fibonacci Retracement Levels
Applying Fibonacci retracement levels to the intraday swing from 0.00809 to 0.00845 revealed that the price tested the 0.00832 (38.2%) and 0.00827 (61.8%) retracement levels during the consolidation phase. These levels acted as minor support and resistance, being retested several times. Additionally, on the daily chart, the 61.8% retracement of the previous bearish trend was observed near 0.00806, which was briefly tested in the final hour of the trading day.
Outlook for Celer Network
Celer Network appears to be entering a potential consolidation phase, with mixed signals stemming from the RSI divergence and decreasing volume. Investors are advised to monitor key support levels at 0.00800 and resistance at 0.00830 to gauge the market’s direction over the next 24 hours. As always, unexpected news or macroeconomic developments could introduce volatility into the market.
