Home
News
- The Celsius token has registered a 247% upside rally in just 14 trading sessions.
- The CEL token is trading far above the significant moving average like 20,50,100 and 200.
- CEL token concerning the Bitcoin pair is slightly up 1.6% at 0.0001542 Satoshis.
The Celsius token has recorded an amazing upside rally in the past several days. The altcoin price continued moving higher after interrupting the $1.5-resistance level, which turned into key support if CEL reverse the trend. Meanwhile, a token broke out in the bears’ hedge zone last night.
At the time of writing, Celsius token is trading at $3.81 Mark against the USDT. However, buyers seem to be exhausted in intraday trading sessions, thus price moving lower in hourly time frame. Nevertheless, the token registered a 247% upside rally in just 14 trading sessions.
The bears are trying to sell near the $4.0-round level. This area could be resistance if buyers fail again ahead of this area. Besides, the $3.5 level has immediate support. Meanwhile, the market cap of the CEL token remains above USD 900 million according to CMC, with an increase of 3% over the past 24 hours.
Amidst the uptrend, trading volume increased, thus, the CEL token belonging to the bitcoin pair is up a little 1.6% at 0.0001542 satoshis. Moreover, the altcoin is trading well above important moving averages such as 20, 50, 100 and 200 during the daily price scale.
Will Price Reverse From the Current Level?
The RSI indicator is showing a pull-back signal for the Celsius token, however, the peak of the indicator still remains in an overbought zone. Besides, the MACD continues to move up in the positive zone.
Conclusion
The Celsius token is well above the support area, so the bulls just need to find an opportunity. $3. The zone can act as a pumping zone; On the other hand, $4.0 resistance is an immediate resistance level, buyers can see an upward move towards the $5.0 mark in a single attempt.
Resistance level- $4.0 and $5.0
Support level- $3.5 and $2.0
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
