Cetus Protocol (CETUS) Jumps 59% on Binance Partnership News

• Binance partnership boosts $CETUS volume by 908.99%, signaling strong market demand.
• $CETUS holds key support at $0.18-$0.20 as $0.23 offers a secondary stability buffer.
• With RSI at 86.55, $CETUS faces potential correction amid overbought conditions.

Cetus Protocol (CETUS) has surged by an impressive 59.16% in the past 24 hours to reach $0.2853. This price jump is mostly the result of the team’s strategic partnership with Binance, which has boosted both trading volume and investor interest.

While $CETUS experiences increased activity and price volatility, understanding its key support and resistance levels can help traders navigate the market. An analysis of recent volume trends and technical indicators can also provide clues about potential price corrections.

Price Momentum and Volume Analysis

The recent price spike in CETUS highlights significant buying interest. Notably, trading volume has increased by 908.99% in 24 hours to $131.32 million.

Source: Coinmarketcap

This substantial jump suggests strong interest in CETUS, likely fueled by the Binance partnership and the project’s growing market presence. The sharp increase in both volume and price indicates strong support, but this rapid pace could also lead to profit-taking in the short term.

Identifying Key Support Levels

To better understand $CETUS’s potential stability zones, two main support levels are important to watch. First, the $0.18 to $0.20 range acted as a previous trading zone before the recent surge, making it a crucial initial support level. If the price retraces, this level could provide some stability.

Second, the $0.23 mark, which briefly held during the initial rise, may serve as secondary support if selling pressure increases. Both levels represent potential price floors, though continued buying could prevent significant pullbacks.

Resistance Levels and RSI Insights

Looking ahead, the $0.33 mark is the first resistance level for CETUS, where initial selling pressure emerged. A retest of this level could trigger a pullback as traders attempt to lock in profits. If CETUS breaks above $0.33, the next target could be $0.35, a psychological level that may attract more profit-taking.

Currently, the 4-hour RSI reading of 86.55 indicates an overbought condition, which could lead to a short-term correction. Moreover, the price trading above the signal line suggests that CETUS may experience increased volatility or minor corrections in the near term.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.