Home
News
- The Celsius is showing an amazing gain of 22% in market cap.
- In the intraday trading session, CEL price is taking resistance at the 50-day moving average.
- Amid token’s accumulation, trading volume hiked by 155% in the last 24-hours.
During the rebound, the Celsius token sought to recoup its losses. August was a tumultuous month for CEL speculators, with the price increasing over 300% and then losing the whole gain in a short of 15 days. Price activity for CEL investors is now sideways above the conceptual round level of $1.0.
The hourly price movement exhibits a higher-low pattern during recovery, with the CEL token now trading at $1.47 Mark. Because of the deep bond amongst CEL and BTC, the token just broke out of the sideways trend. BTC was hovering around the $20K mark at the moment.
In the 4-hours price scale, CEL token is exchanged above the 20 and 50 DMAs get rejected at 100-DMA. But on the daily time frame window, CEL price is taking resistance at the 50-day moving average in the intraday trading session. Bears sit on the upcoming moving average in any time frame.
In the last 24 hours, buyers saw an amazing rally in price as it’s up by 22% in the last 24-hours. As a result, Market cap reached $350 Million as per CMC. It occurred because trading volume hiked by 155% in the last 24 hours.
Due to sell-off in CEL price, the RSI indicator fell below the halfway mark, but now it is attempting to move above the 50 mark. Besides, the ADX indicator declined rapidly, suggesting weak bullish strength in the token.
Conclusion
The Celsius token struggles at most immediate moving averages like 50-DMA on a daily price scale. Although RSI is showing positive indication, ADX continues to decline; wait for bullish trend confirmation.
Resistance level- $4.0 and $5.0
Support level- $1.0 and $0.5
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.
