Altai the Tiger
IGNITION
streamoors
Sword Inu
NEAR Protocol
Injective
Quantus
- Celsius price has gotten up towards the lower trendline of the rising parallel channel over the daily chart.
- CEL crypto has soared above 20, 50, and 100-days DMA but is still below 200-day Daily Moving Average.
- The pair of CEL/BTC is at 0.00008452 BTC with an intraday gain of 12.45%.
The price of Celsius is attempting to ascend via an upward channel on the daily price chart. The coin is currently advancing as it approaches the upper trendline of the channel. The CEL currency has to keep up the pace of the recent rally in order to recover and reach a respectable barrier level. CEL bulls need to maintain the upward momentum for the token to be able to break free of the ascending parallel channel with a strong bullish surge. However, bears are making an effort to short the CEL market. In a down market, it is challenging for cryptocurrencies like CEL to rebound. Investors in CEL must wait until bulls keep their position at the top trendline of the ascending parallel.
The Celsius price is currently estimated at $1.61 and has increased 11.27% over the past 24 hours in terms of market capitalization. The intraday trading session has seen an increase in the trade volume of 81.56%. This demonstrates that bulls are attempting to regain the ground that was lost inside the ascending parallel channel. The volume to market cap ratio is 0.04957.
There must be more purchasers for the CEL coin price to move more swiftly approaching the channel’s top trendline. However, volume shift shows that the bulls’ buildup is insufficient and needs to be increased for CEL to soar. The CEL coin price must increase toward the upper trendline in order for its recovery phase to be seen on the daily price chart.
What do Technical Indicators suggest about CEL?
The CEL cryptocurrency’s daily price chart displays a rising parallel channel in an effort to signal its recovery. To optimize recovery, the token must keep moving inside the channel and push past the permissible resistance level. Technical indicators imply that the CEL currency’s growth is accelerating.
According to the Relative Strength Index, CEL is currently trading in the neutral area. Wait till the RSI rises back over neutrality before investing in CEL. The MACD shows the upward velocity of the CEL coin. The MACD line is positioned in front of the signal line heading toward the positive zone.
Conclusion
The price of Celsius is attempting to ascend via an upward channel on the daily price chart. The coin is currently advancing as it approaches the upper trendline of the channel. The CEL currency has to keep up the pace of the recent rally in order to recover and reach a respectable barrier level. CEL bulls need to maintain the upward momentum for the token to be able to break free of the ascending parallel channel with a strong bullish surge. However, bears are making an effort to short the CEL market. The CEL coin price must increase toward the upper trendline in order for its recovery phase to be seen on the daily price chart. Technical indicators imply that the CEL currency’s growth is accelerating. The MACD line is positioned in front of the signal line heading toward the positive zone.
Technical Levels
Support Levels: $1.40 and $1.30
Resistance Levels: $1.76 and $2.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
