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- 1 Celsius crypto is languishing near the multi-month low value.
- 2 The CEL crypto price currently trades at $0.175, post a 0.53% intraday gain.
The Celsius crypto price hovers near the recent support and needs buyers at the lower levels. Moreover, the 50-Day EMA has been acting as a selling zone and rejecting the price at the lower levels, thus forming a descending triangle pattern.
Moreover, for the last several sessions the volume received is low due to which several weak and indecisive candles are being formed. Fresh selling might be observed if the crypto breaks below the recent support of $0.170.
The crypto started the week on a positive note and managed to rise nearly 1% from the previous week’s closing value on Monday. On Tuesday, the buyers were dominating the trend as a positive candle has been observed so far.
At the time of writing, the CEL crypto was at $0.175, recording a positive intraday development of 0.53%. It has a total market capitalization of 41.874 Million and ranks 554th in the overall crypto market. The volume to market cap ratio is 2.65% suggesting low volatility.
Celsius Crypto Price Technical Analysis
Moreover, the broader term outlook for CEL crypto has turned bearish after the breakdown below the 200-Day EMA. Moreover, a bearish crossover of the 50-Day and 200-Day EMA may be observed on the charts suggesting a potential trend reversal on the downside.
Earlier, the crypto attained a positive outlook in October 2023 and made a short-term bullish rally after rising from a low of $0.15. The crypto attained its highest value $0.33 in December 2023 and reversed its course thereafter.
Currently, celsius crypto price hovers near the recent support of $0.17 and forming a descending triangle pattern. Now, the breakdown below the triangle pattern may initiate a fresh selloff that could take the price to the lower demand zones of $0.15 and $0.13.
The technical indicators show that the CEL crypto has smashed below all the key EMA of 20 and 50-Day as well as 200-Day suggesting a negative outlook at the moment. At present, the RSI was at 40.53 points and SMA line was at 40.98 points, suggesting a neutral outlook.
Celsius Price Prediction February 2024
As per the most optimistic view of our analysts, the CEL price could reach a high of $0.22 by February end. The less optimistic view of the analysts hopes for a breakdown below the recent support of $0.17, after which the price may drop to a low of $0.15 and 0.13.
Celsius Price Prediction 2024
The analysts have a wide range of price targets for 2024. The most optimistic view of analysts assumes the CEL crypto could attain a high of $0.33, suggesting a potential gain of over 89.1%. The lower price target for the crypto as per the analysts is $0.255.
Celsius Price Prediction 2025
On the most bullish observation, Celsius crypto could hit the high mark of $0.452 in 2025. On the flip side, the most pessimistic prediction of our analysts is the $0.309 mark.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock 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.
