Doge Pepe
Claudia
hi
Covenant x402
Quantus
Pudgy Penguins
Pearl
- CELO coin price is seeing a downside correction on the daily chart after seeing a jump of more than 135% in five days. It may see the continuation of further uptrend.
- Technical indicators for CELO token suggests that it may see a downside momentum before going further up . Meanwhile, CELO/BTC pair has seen a rise of 20% in the intraday session
Why Invest In CELO Coin?
CELO coin price is currently near the value of $4.12 with an intraday gain of more than 26%. The asset has an ROI of more than 390% which has always attracted investors towards it. CELO uses phone numbers as public keys, and is hoping to introduce the world’s billions of smartphone owners to have access to transacting cryptocurrency. The blockchain was introduced in April 2020 and allows users to create smart contracts and Dapps.
CELO coin has recently became the first integrated stable coin for the opera browser. This has made the token more accessible to the general public. It also correlated with its stable currency CUSD. The past accumulation zone of the token has proved to be healthy for the rise in price.The volume of the asset along with the market cap has also seen a rise in the past few days.
Technical Indicators Suggests The Continuation Of Uptrend In CELO Coin
CELO price has formed a bullish engulfing candle on the daily chart. It shows that prices may continue further up in the upcoming weeks. On the daily chart the bull trend has come to the hlat. Resistance for the CELO token can be seen near $6, while going upwards. Meanwhile, the support for the asset can be seen near $2. The price is currently trading above the 50 and 100 Daily Moving Average. It has breached the resistance of the 100 DMA and is going upwards.. The 100 DMA (Yellow) line is at $3.8 making it a temporary support for the coin. The coin has seen a jump despite the bearish mode in cryptomarket. If the price of the coin jumps above the $8 then a momentum until $20 can be observed. CELO/BTC pair can also see a bullish momentum and can soon break out the previous resistance.
Conclusion
CELO coin price has seen a jump of more than 135% in just five days making its investors profitable. CELO/BTC pair can also observe an upside momentum in price in the future . One can wait for the price action before jumping into the action.
Technical Levels
Major Support:$2
Major Resistance:$6
