- CELO prices are limited to the horizontal range on the daily price chart, but the hourly graph shows the accumulation of bulls.
- Cryptocurrency assets are below the moving averages of 20, 50, 100, and 200 days.
- The CELO / BTC pair is 0.0000434 BTC, which is a gain of only 0.40%.
Celo is a blockchain ecosystem focused on increasing the adoption of cryptocurrencies among smartphone users. By using the phone number as a public key, Celo wants to introduce cryptocurrency transactions to billions of smartphone owners around the world, including those who do not have access to banks.
The CELO Post-collapse prices from the flat trend are now again limited to the integration phase of the daily chart. This shows the battle between the bulls and the bears, but this time the bears dominate overall, pushing prices to lower levels in the horizontal range. The main reason for this may be that the traditional cryptocurrency BTC was dominated by falling below the 20k mark. The price is below the 5-day moving average with a volume that is a 5% loss. Coins need to attract buyers to save them from breakdowns.
One current price CELO The coin is moving at $ 0.85 and its market capitalization over the last 24 hours has increased by 1.29%. The coin volume was 22 million, plunging 5.28% in a 24-hour trading session and having a market capitalization of 383 million.Volume market capitalization ratio CELO It is 0.05873.
Short-term analysis of CELO
In the short-term (4 hours) graph you can observe the movement of a strong downtrend moving below the horizontal range, along with the opposition bull’s efforts. This move marks a level of bearish dominance, and the Bulls need to gather support to oppose the trend.
The MACD indicator disabled the red histogram that supports bulls and created a positive cross. The Relative Strength Index is also on the rise, indicating that buying is on the rise. The bulls need to be consistent to make a breakout and the RSI value is above 40.
After the collapse from the flat trend, CELO prices are still limited to the integration phase of the daily chart. The main reason for this may be that the traditional cryptocurrency BTC was dominated by falling below the 20k mark. Coins need to attract buyers to save them from breakdowns. Bullish accumulation can be observed on the hourly graph, and technical indicators also show a bullish recovery. Bulls need to be consistent to make a successful breakout.
Resistance levels: $ 0.89 and $ 0.92
Support level: $ 0.81 and $ 0.79
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