- The CELO price closed the previous day’s trade at $3.125 with a market capitalization of $1.32 billion and a circulating supply of 427,388,610 CELO
- The asset is trending within a notable descending trend, rejecting the possibilities of a rebound or a breach-through the trend
- Despite the current flip from the lower bottoms, the asset appears to be primed to shed some gains to hit the lower support levels again
Celo (CELO) Technical-Analysis for Today: 25 March 2022
The Celo price flipped the bearish divergence a couple of days before and since then followed a substantial uptrend. Currently, the price seems to be poised to maintain a notable uptrend but an interim pullback could challenge the strength of the rally. However, slashing the odds, the CELO price could ignite a strong flip at $3 and quickly ignite a strong rebound to $3.2 to end the day’s trade.
Celo (CELO) Technical Analysis at a Glance
Despite the CELO price is still within the captivity of the bears, the asset is attempting very hard to break the consolidation. And hence the asset may continue with an uptrend, accumulating huge bullish momentum. Further, it could continue with the narrow swing until it receives a decent opportunity for a breakout. Therefore, settling high, validating a bullish trend to close the quarterly trade.
|Short-Term||The price is currently dropping towards the lower support may be due to exhaustion following a significant surge. However, the selling volume is currently low that may flip the descending trend quickly|
|Mid-Term||The sellers are attempting very hard to restrict the price below $3.1, yet the asset appears to assure a daily close above $3.2 to maintain a notable uptrend|
|Long-Term||In the long-term the price is extremely bullish, maintaining a strong uptrend as the buying volume keeps on accumulating|
Additional Read: What is CELO?
Technical Indicators & Pivot Levels
|Technical Indicators||Value(1Hr / 1D)||Action (1Hr / 1D)|
|Relative Strength Index(RSI)||59.53 / 60.992||Buy / Buy|
|MACD(12,26)||0.025 / 0.091||Buy / Buy|
|Average Directional Index(ADX)||35.11 / 22.72||Buy / Buy|
|Bull-Bear Power||0.0610 / 0.4180||Buy / Buy|
|Average True Range(ATR)||0.043||0.26|
The CELO price is quite bullish in both the time frames and hence the price may keep up the uptrend slowly yet steadily. RSI in STF and HTF is ranging high, while huge buying volume is mounting with intensified rally strength. However, the asset has less volatility in STF while in the HTF, it is highly volatile. Moreover, the bulls hold control as the price has surpassed the immediate resistance and heading towards the decisive phase.
CELO /USDT Technical-Analysis for Short-Term
- The Celo price recently broke through the descending trend with a huge spike of nearly 30%
- However, the asset continued to consolidate but in an ascending manner, trending within an ascending triangle
- No doubt the asset is facing rejection at the moment but could rebound back firmly as it hits the lower support just above $3
- With the flip, the asset may eventually range high towards $3.7 initially and later could even test the pivotal $4 levels
CELO /USDT Technical-Analysis for Long-Term
- CELO price smashed its highs somewhere in Q3 end and further plunged hard to test the lower support
- The asset slid down heavily below $3 and after a couple of attempts rebounded well but is still hovering within the danger zone
- Therefore the price may face yet another interim rejection if it fails to slice through the upper resistance of the channel
- However, the lower support at $2.8 may ignite a notable rebound, if failed it may slide down much below $2.5 and wait for an opportunity to rebound
Additional Read: CELO Price Prediction
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