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Celo price analysis: CELO recovers to $3.92 as bulls keep providing backup

Celo price analysis CELO recovers to as bulls keep providing backup

TL;DR Breakdown

  • Celo price analysis is bullish today.
  • Price increased up to $3.92 today.
  • Support for CELO is present at the $3.7 level.

The most recent CELO price analysis shows a rise in price for the second day as well as the bulls have continued their lead on the price charts. Green candlesticks have reappeared on the price chart, and the price has reached the $3.92 level after continuous bullish efforts since yesterday. The bearish momentum was at its peak in the previous week, but today the bulls have been able to bring the price a little higher.

CELO/USD 1-day price chart: Upturn in price helps CELO recover to $3.92

The 1-day CELO price analysis indicates a bullish trend for the day as the price has heightened up to the $3.92 level today. The bullish activity has been intensifying for the second consecutive day, and we can expect an upswing in the near future. However, the price underwent a rapid decline during the previous week. The moving average (MA) value in the 1-day price chart is also trading at $3.83 below the price level.

Celo price analysis: CELO recovers to $3.92 as bulls keep providing backup 1
CELO/USD 1-day price chart. Source: TradingView

The volatility is high for CELO/USD pair, as the upper limit of the Bollinger bands is at the $5.73 mark while the lower band is present at the $3.22 mark. The Relative Strength Index (RSI) is trading at index 38 on an upwards curve, hinting at the buying activity in the market.

Celo price analysis: Recent developments and further technical indications

The 4-hours CELO price analysis confirms that an uptrend has been taking place for the past few hours, as the price trend line is upwards from the last 44 hours. There have been instances where the bulls have encountered bearish resistance, but nonetheless, the upward trend has been maintained. The price has been trading above the moving average (MA) value as well, which is present at $3.77. At the same time, the Bollinger bands average is at $3.77, also just below the MA at the time of writing.

Celo price analysis: CELO recovers to $3.92 as bulls keep providing backup 2
CELO/USD 4-hours price chart. Source: TradingView

The volatility has slightly decreased as the Bollinger bands converged sharply during the past few hours, and now the upper band is present at $3.98, and the lower band is present at $3.56. The RSI score has reached the upper half of the neutral zone and is trading at index 54 as the buying activity has been high today.

Due to the overall trend line for the price function having been downwards since 27th October, the technical indicators for CELO/USD pair are still bearish, as 13 indicators are giving sell signals, and only three indicators are giving buy signals, the remaining 10 technical indicators stand neutral out of a total of 26 technical indicators.

Celo price analysis conclusion

The uptrend has been going strong since yesterday, and even today, a rise in price has been detected. The bullish momentum has helped in taking the price to the $3.92 level after finding recovery. If the bullish momentum continues then, CELO can challenge the $4.25 crucial resistance in the next trading session.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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