- The CELO coin chart shows a bullish crossover of the 100-and-200-day EMA
- The CELO/BTC pair traded at 0.0001592 BTC with a gain of 19.23%
- The CELO’s 24-hour trading volume for coins is $638.1 Million
On 8th September, the CELO coin price gave a morning star candle pattern at the 50-EMA line providing valid support for the continuation so its bull rally. The coin price is currently trying to break out from another crucial resistance of $6.6, which would provide an excellent long opportunity for the crypto trader. However, these traders should wait for the price to close above this level to confirm a proper breakout.
The CELO Coin’s price is trading higher than the crucial EMAs 20, 50, 100, and 200, which indicates a bullish trend in this coin. Moreover, the 20 EMA is providing strong dynamic support to the CELO coin price. In addition, the coin chart shows a bullish crossover of the 100 and-200 EMA, attracting even more buyers to the coin.
The RSI value is 69(BULLISH), indicating a bullish sentiment regarding the price movement.
The CELO Coin Crypto Chart In The 4hr Time Frame
The CELO coin in this lower time frame has offered a candle closing above the $6.6 resistance, and its price is currently going through a retest phase. This retest candle can validate if the breakout is genuine or not and also provide a better risk to rewards ratio.
Moreover, the crypto traders can use the traditional pivot levels in their chart, as they provide extraordinary confluence with the SR levels, providing them a better confirmation and an extra edge in their trading.
The MACD indicator (BULLISH) shows signal and MACD lines are moving below the neutral area (0.00), indicating bullish sentiment. Moreover, the indicator displays steady green bars in a histogram chart, indicating bulls are gaining momentum.
Conclusion: CELO’s coin technical outlook is strongly bullish, as the chart shows a breakout from a crucial resistance of $6.6. Once the coin price provides proper sustainability above the broken level, the crypto trades can expect a target till the $8.5 mark.
Support – $6.6
Resistance – $8.5