- Celsius crypto price has dropped by 23% in January.
- The trading volume of CEL has increased by 32% in the past 24 hours.
- Celsius token price is trading below the 200-day EMA, showcasing the bearish momentum.
Last month, the Celsius (CEL) price had been in a bearish trend and declined after facing resistance from the trendline. From the first week of February, the CEL price has jumped by 14%. Currently, the Celsius token price is facing resistance from the moving averages. Yesterday, the CEL price surpassed the 100-Day EMA but failed to sustain.
Celsius (CEL) is an all-in-one banking and financial services platform for cryptocurrency users. Launched in June 2018, it offers rewards for depositing cryptocurrency and services such as loans and wallet-style payments.
The current market price of Celsius crypto is $0.195 which has dropped by 2.06% in the last 24 hours. The market capitalization of CEL is $46.86 Million and the trading volume is $1.23 Million.
RSI is at 52 which has recovered from the oversold zone and is heading toward the overbought zone, indicating buying pressure. After shedding the bearish momentum, the Celsius price has approached significant moving averages.
Celsius Crypto Price Technical Analysis Over Daily Timeframe
The Celsius token price has formed a descending triangle and gave a breakout. The price has jumped by 21% after the breakout and the move is getting disturbed near the 100-Day moving average.
If the CEL crypto price surpasses the significant moving average and sustains, the price may approach the strong resistance level of $0.280 in the next few months. Currently, the CEL price is near the $0.200 hurdle and is forming a negative candlestick. Last time, the Celsius price faced resistance from the same level so a higher possibility for a bearish move is expected here.
On the other hand, if the price faces resistance from the 100-Day moving average and declines, it may easily melt to the support level of $0.170. The Celsius price may witness a sharp fall as many traders may hit their stop losses. If the price fails to defend the support level of $0.170, strong selling pressure would be expected.
The circulating supply of Celsius token is 238,863,520 CEL and the fully diluted market cap is $136.44 Million. The total and maximum supply of CEL token is 695,658,160 CEL.
Celsius Crypto Price Prediction FAQs
What is the Celsius price prediction today?
The Celsius price is predicted to drop 4.00% to reach $0.192 by today.
What is the CEL token price prediction tomorrow?
According to our analysis, the Celsius price is forecasted to lose 2.26% and approach $0.189 by tomorrow.
What is the Celsius price forecast for this week?
Based on our technical analysis, the CEL token price is forecasted to remain bearish for this week. It may range between $0.200 to $0.182.
What is the current CEL price sentiment?
The current Celsius price prediction sentiment is bearish according to our technical analysis.
Conclusion
To sum up, the Celsius (CEL) crypto price has shown a bearish trend in the past month, but it has recently seen a 14% increase. Despite this, the CEL price is still facing resistance from key moving averages and is currently near the $0.200 hurdle. Technical analysis suggests that the price could hover between $0.200 to $0.182 this week.
Technical Levels
Resistance Levels: $0.200 & $0.280
Support Levels: $0.172 & $0.127
Disclaimer
Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is especially volatile and speculative, and this article does not advise investing in cryptocurrencies or other ICOs. Since everyone is unique, a certified professional should be continually consulted before making any economic decisions.