Home
News
- The Celsius token fell down by 10% in the last 24 hours.
- Buyers failed to move the asset price above the 200-day moving average.
- The pair price of the CEL token along with the Bitcoin is down by 8.3% at 0.0007867 Satoshis.
The Celsius (CEL) coin has set an impressive record in recent weeks. Buyers are pushing the altcoin higher after a turnaround from new 52-week lows. As a result, the Celsius token has risen sharply in recent days, about 900 percent from its 90-day lows.
Prices have dropped slightly today, following a huge increase in purchasers. Instead of a bullish trend, purchasers observed a stunning bullish surge in the last five trading sessions, propelling the price to approach the important resistance level of $2.0.
At the time of writing, the CEL token is trading at the $1.8 mark after being rejected at the crucial $1.8 level. Also, the bears again turned aggressive near the 200-day EMA in terms of the daily price scale. Below these resistance levels, the bulls may fail to manage the asset in the higher zone.
The CEL coin is up 25% this week, despite a slight drop. Meanwhile, the Celsius token’s market cap fell by 7.8% to $434 million in the past 24 hours, according to CMC. Trading volume is gradually increasing during the uptrend. Furthermore, the price of the CEL token pairing with bitcoin is down 8.3% at 0.0007867 satoshis.
MACD Suggests Positive View for Celsius
In the context of the daily price chart, the Stoch RSI indicator is moving towards an overbought zone. Similarly, the MACD suggests an uptrend for the CEL token as both the moving lines are moving up in the positive territory.
Conclusion
If the bulls break the 200-day EMA, the Celsius coin could turn out to be an amazing return generator going forward. On the other hand, if it has a pullback, buyers could be up 30% from the current levels.
Resistance level- $2.0 and $3.0
Support level- $1.5 and $1.0
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
