Cryptocurrency

CELO/USD Hits $0.48 Resistance Level


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The Celo price prediction may continue to show a bullish movement if the coin could rise above the $0.50 resistance level.

Celo Price Statistics Data:

  • Celo price now – $0.47
  • Celo market cap – $227.1 billion
  • Celo circulating supply – 478.8 million
  • Celo total supply – 1 billion
  • Celo Coinmarketcap ranking – #102

CELO/USD Market

Key Levels:

Resistance levels: $0.75, $0.85, $0.95

Support levels: $0.30, $0.20, $0.10

CELOUSD – Daily Chart

CELO/USD is showing positive movement as the market moves toward the 9-day and 21-day moving averages. However, the Celo price still needs to create additional bullish movements above the $0.50 resistance level within the channel, if the buyers put more effort and traders can expect the price to continue to rise as soon as this is done.

Celo Price Prediction: CELO Will Shoot to the North

The daily chart shows that the Celo price is attempting to create a new positive trend, and traders may expect a bullish continuation above the 9-day and 21-day moving averages which could test the resistance level of $0.60. Similarly, the technical indicator reveals that the Relative Strength Index (14) is moving to cross above the 40-level, any further bullish movement toward the upper boundary of the channel may locate the potential resistance levels at $0.75, $0.85, and $0.95 respectively.

Nonetheless, if the Celo price begins the rising channel pattern, traders may witness additional bullish trends in the coming trading sessions but on the contrary, a bearish breakdown could play out for this market if the Celo price remains below the 9-day and 21-day moving averages, and this could roll the coin back to the long-term supports at $0.30, $0.20, and $0.10.

Against Bitcoin, the Celo price is likely to create a bullish movement as the coin heads to the north. However, if the coin touches the resistance level of 2942 SAT, the market may keep releasing more bullish pressure as the technical indicator Relative Strength Index (14) moves to cross above the 50-level.

CELOBTC – Daily Chart

In other words, if CELO/BTC falls and heads toward the lower boundary of the channel, it could bring the coin to the nearest support at 2700 SAT, and any further bearish movement could lower the price to the support level of 1800 SAT and below. Nevertheless, if the coin continues to follow a bullish movement, traders could see the coin reaching the resistance level of 4200 SAT and above.

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