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Celo price analysis: Upturn in price allows CELO to rejoin $2.759

Celo price analysis A upturn in price allows CELO to rejoin

TL;DR Breakdown

  • The Celo price analysis is bullish.
  • Resistance for CELO is present at $3.
  • Support is present at the $2.66 level.

The Celo price analysis is bullish for today as an increase in price has been observed. The market has followed the bullish trend since yesterday, and the coin has gained significant value since then, as bulls continue their march. The trend has been the same for today, and the crypto pair continues to cover the range upwards as the price has already reached $2.759. However, the next resistance is present at $3, and the bulls may see some opposition at this point.

CELO/USD 1-day price chart: Uptrend persists in bringing price levels higher than $2.759

The 1-day price chart for Celo price analysis shows bulls are defining the price curve for today as well. The CELO/USD value has been increasing since yesterday after the bullish recovery towards the $3 psychological mark. CELO/USD pair is trading hands at $2.759 at the time of writing, gaining 5.69 percent during the last 24 hours. The past week overall proved successful for the crypto pair as it gained a tremendous 15.30 percent value over this time. The moving average (MA) is standing at $2.63 below the price level. A crossover between SMA 20 and SMA 50 curve is also expected if the uptrend continues.

Celo price analysis: Upturn in price allows CELO to rejoin $2.759 1
CELO/USD 1-day price chart. Source: TradingView

The volatility for CELO/USD is high as the Bollinger bands are showing, with the Upper band at $3 and the lower band at $2.17, making an average at $2.63. The relative strength index (RSI) is also confirming the uptrend for today as it is on a steep upwards curve at index 49, indicating high buying activity in the market.

Celo price analysis: Recent developments and further technical indications

The 4-hour price chart for Celo price analysis shows that bullish momentum has been gaining strength over the past few hours, despite the fact that the price breakout was in the downwards direction today. But bulls made a comeback, and the price shot up towards $2.774, turning the trend bullish for today as well. The last green candlestick indicates strong bullish activity.

Celo price analysis: Upturn in price allows CELO to rejoin $2.759 2
CELO/USD 4-hours price chart. Source: TradingView

The Bollinger Bands on the 4-hour chart have been keeping their average at $2.63, whilst the upper band is at $2.76, and the lower band is at the $2.49 mark. The price has shooted past the upper band, which was representing resistance for CELO price at $2.76. The RSI score has increased towards the overbought zone as it has reached index 63 and continues to move up with time.

Celo price analysis conclusion

The Celo price analysis shows that the coin is rallying today and may continue to follow the uptrend for the rest of the day as bulls define the price action. The resistance present at $3 may go under test today, but it seems strong enough, and bulls will need more support. We can assume for the CELO/USD to continue upside towards the $3 range today.

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.

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