- The CELR coin price is currently trading at $0.01230.
- The coin price has recently shown signs of a bullish reversal.
Celer Network (CELR) is an interoperability protocol blockchain that provides its users with one-click access to tokens, DeFi, GameFi, NFTs, and many more chains.
The Celer network has a current market capitalization of $94,752,399 with a circulating supply of 7,743,424,107 CELR coins. The current market coin price is trading at $0.01230 with a 24-hour trading volume of $3,503,580. The coin price is up by 1.4% in the last 24 hours.
Celer Network (CELR) Coin: Technical Analysis
While analyzing the CELR coin chart in the 1-day timeframe, the coin was trading inside a falling wedge pattern. A few days back the coin price was consolidating in a narrow range of $0.01219 to $0.01102 levels. It gave the breakout of the falling wedge pattern.
The price has recently given the breakout of the narrow range and is sustaining above it. The price has two signs of bullish reversal in the 1-day timeframe. The volume bar of the chart has also spiked up in the last few trading sessions, showing the strength in the price movement.
If the price sustains above the $0.01219 level and forms a strong bullish candle, it may rise to its next resistance at $0.01456. However, for the price to continue its bearish move, it must give the breakdown of the narrow range or $0.01102 level. Thus, the CELR coin price may continue its fall to the next support at $0.00920.
Technical Indicators on the Current Trend
The CELR coin price has recently closed above the 50 and 20 EMA, indicating the price has started to pressure from the buyers. The price could up in the upcoming trading days if the price is sustained above these two EMA.
The relative strength index is at 55.76 and is continuously moving in the upward direction. It indicates the price is in a neutral state currently but the buyer dominance over the price is increasing as the RSI is trending up.
The bands of Bollinger have also started to expand, showing the increase in volatility in the current scenario.
Conclusion
The Celer Network (CELR) coin chart is shifting to bullish sentiment as the price movement gave signs of reversal after the fall. CELR token’s price has recently given the breakout of the falling wedge pattern and also the narrow range of $0.01219 to $0.01102 it was currently trading in. Currently, the price is sustaining above the $0.01219 resistance. If it sustains above the $0.01219 level and forms a strong bullish candle, it may be seen rising to its next resistance at $0.01456.
Technical levels
Resistance Levels: $0.01219 and $0.01456.
Support Levels: $0.01102 and $0.00920.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.