- CEL token price is struggling to cross the 50 EMA in the daily time frame
- The CEL/BTC pair was trading at 0.0001755 BTC with a gain of 13.88%
- The current price of the CEL token is $5.93, with an intraday loss of 0.03%
On 20th July, the CEL token showcased another bounce from the $4.8 support with a morning star candle pattern. Currently, the price has just given a breakout from the $5.7 resistance, which provides a new long opportunity for CEL traders. However, traders looking for more safe entry can wait for a retest, providing a better entry opportunity and location to place a logical stop loss.
About the EMA’s, the CEL token has just crossed above the 20-day with its strong bullish green candle; however, the 50-day EMA is still an active barrier for the CEL token, and a breakout from this line too will provide more confirmation to the market bulls.
The RSI value is at 52, indicating a neutral to slightly bullish sentiment in the price.
CEL Token Crypto Chart In The 4hr Time Frame
The CEL token price shows a clear breakout from the $5.75 resistance in the 4hr time frame. However, the price seems to be entering into the retest phase, which can validate if the breakout from the resistance level is a genuine one or not. In addition, the chart also shows the price is respecting the traditional pivot level, and traders can use them to gain an extra edge in their trading.
The MACD indicator (BULLISH) shows both the MACD and the signal line moving above the neutral zone(0.00), indicating strong bullish momentum in the token.
Conclusion: From the technical perspective, the overall sentiment of the CEL token is still sideways and will remain the same until it gives a breakout either from $8 resistance or the $4.8 support. However, this range is big enough to provide some excellent reversal trades to the CEL traders.
Thus, as mentioned above, if the price shows sustainability above the $5.7 resistance level, the trader can grab an excellent long opportunity, providing a good one to two pivot level targets.
Support– $5.75
Resistance– $7.0