Cetus Protocol ($CETUS ) has seen significant growth over the past 24 hours, with a +20.80% increase to reach a current price of $0.3706 USDT. The following detailed technical analysis explores the possibilities of a continuation of this rally or a possible correction in the short term.

Current Technical Summary:

  • Current Price: $0.3706

  • 24h High: $0.3741

  • 24h Low: $0.3066

  • RSI (6): 68.27 (near overbought)

  • RSI (12): 55.66 (neutral zone)

  • RSI (24): 52.6 (neutral zone)

  • Volume: $77.18M (+33.30% do Market Cap)

  • Market Cap: $231.8M

Technical Analysis:

RSI (Relative Strength Index) Indicator:

  • RSI(6) at 68.27 indicates a near overbought condition, suggesting the asset is close to a bullish exhaustion level.

  • RSI(12) and RSI(24), still at neutral levels, indicate that the trend may continue positive, but with caution.

Volume e Moment:

The significant volume of $77.18M, ​​representing 33.3% of the market cap, indicates strong buying interest and market momentum, reinforcing the current bullish trend. However, high volumes coupled with an RSI close to overbought may indicate the possibility of profit-taking in the near future.

Supports and Resistances:

  • Immediate Resistance: $0.3741 (recent high)

  • Secondary Resistance: $0.40 (psychological resistance)

  • Primary Support: $0.35 (recently tested region)

  • Critical Support: $0.3066 (24h low)

Scenarios for the Next 24 Hours:

Bullish Scenario:

  • If CETUS manages to break the $0.3741 resistance on high volume and RSI remaining below 75, there is potential to reach $0.40.

  • The continuation of the positive trend depends on the behavior of volumes and liquidity.

Bearish Scenario:

  • If the price fails to break the resistance and the RSI surpasses 70, there could be a correction towards the support zone at $0.35.

  • Declining volume and profit taking could intensify this scenario.

Conclusion and Recommendation:

Current Trend: Slightly bullish, but with risk of overbought.

Recommendations:

  • For conservative traders: Wait for a possible pullback to the $0.35 range before considering entries.

  • For aggressive traders: Monitor the break of resistance at $0.3741 to target $0.40.

Risk Management: Use stop-loss at $0.35 and take partial profits if the asset reaches new peaks.