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- 1 Celsius Network (CELUSD) is currently trading at $$0.164 with an decline of -1.52% in the 24 hours.
- 2 The Celsius Network price is observing a decrease of 48.05% in the last 6 months.
- 3 The CEL market capitalization is $31.769 Million.
‘Celsius Network is a crypto lending platform and interest account’ that enables users to earn interest and borrow funds in cryptos. It has an app for both Android and iOS devices. It also has its own token, CEL, that offers users better rates and rewards. It was founded in May 2018 by Alex Mashinsky, a serial entrepreneur and inventor of VoIP.
CEL price saw an increase during the weekend’s trading session as the troubled token recovered. Celsius is close to resolving its bankruptcy case as it strikes a deal with its unsecured creditors.
CEL Coin Price Technical Analysis
The price of Celsius Network (CEL) has been fluctuating around 50 and 200 SMAs, which indicates that the price movement is uncertain. If the sellers maintain the pressure, the coin’s value may decline even more in the upcoming days.
The technical indicator MACD is moving towards a negative zone. The MACD line at 0.00198 and signal line at -0.00072 are under the zero line, implying that the MACD is moving toward the negative zone and is giving bearish signs.
The RSI read 50.68 points at press time. The 14 SMA line is currently above the middle line, around 52.40 points which shows uncertainty in the market sentiment. The bearish trend is shown by the 14-day SMA line as it is trading above the RSI. As the price moves toward the oversold zone, the market is experiencing bearish sentiment.
Technical Levels:
- Support level- The current support level is $0.09098176.
- Resistance level-The current resistance level is $0.25755441.
Conclusion
In the Celsius Network (CEL) chart, a fierce battle between bulls and bears is visible, as the coin is trying to bounce back. The price movement shows that the price may decline more in the following days if the lower support level is broken. CEL price chart suggests negativity at the moment. The EMA, RSI, and MACD are giving uncertain signs about Celsius Network. Hence, the Celsius Network needs to break above the previous swing high for any up-move in the market so it can stay range bound or decline further.
Disclaimer
The analysis given in this article is for informational and educational use only. Do not take this information as financial or trading advice. Trading and investing contain financial risk. Before making any investment or trading decision, please consider your risk profile and circumstances.
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.
