- Celo price analysis shows bullish recovery.
- Price increased up to $5.6967 today.
- Support is being provided at $5.09 level.
The bulls are regaining their strength and the price is going up once again as the Celo price analysis is predicting. A drop in price occurred in the past few days, but today the cryptocurrency is trying to recover back. The rise in bullish momentum has brought price above $5.69, which is giving encouragement to the buyers. It can be expected that the price may increase further as both the hourly and daily price charts are indicating a bullish trend.
CELO/USD 1-day price chart: Upturn in price allows CELO to rejoin $5.696
The one-day Celo price analysis is dictating a rise in price as the green candlestick has returned to the price chart. The bulls have been able to make a successful comeback, after going through a loss in the past week. The price has improved up to $5.69 today, which is a promising sign for the buyers. The moving average indicator in the one-day price chart is showing its value at $5.77, just above the current price.
The volatility has slightly decreased during the day which means that the price will reach higher points in the upcoming week. As a result, the upper and lower values of the Bollinger bands indicator have changed to $6.977 and $5.09, respectively. The Relative Strength Index (RSI) score is 48.80 at the time of writing.
Celo price analysis: Uptrend persists in bringing price levels higher than $5.69
The four hours Celo price analysis is predicting an upward trend for the cryptocurrency, as the price has been able to join $5.69 once again. The price movement has been quite rapid despite some bearish strikes. The price decreased earlier due to a sudden increase in bearish momentum, but it has recovered in the last four hours. The price is going higher than the moving average value as well, whose value is settled at $5.50.
The short-term trending line is again moving in the upward direction after receiving a bullish push. Whereas the Bollinger bands indicator is showing its values at the following levels; the upper value is at $5.985 and the lower value is at the $5.33 level. The RSI score has heightened up to 51.43 as the bullish momentum is intensifying.
The overall trend for CELO/USD is going towards the neutral side as there have been ongoing variations in the price movement. There are nine indicators that are standing on the neutral and buying marks each, while the remaining eight indicators are on the selling mark.
The moving averages indicator is indicating a neutral trend as well because of the strong competition. Both the selling and buying positions are carrying equal number of indicators i.e. seven while only one indicator is on the neutral position. The Oscillators are hinting the same as there are eight oscillators resting on the neutral position, two oscillators on the buying position, and only one oscillator on the selling position.
Celo price analysis conclusion
The price has undergone improvement as it has been confirmed from the above one day and four hours Celo price analysis. Both of the price charts are indicating a bullish trend, as the price has increased up to $5.69 today. A drop in price took place during the past few days, but the most recent price movement has been in the bullish direction. Further rise in price is to be expected as the bullish trend has been at its peak in the last four hours as well.
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