- Celsius crypto price has risen by 29% in a week.
- CEL price has taken support on 200-Day EMA and triggered a pullback.
Celsius (CEL) price has performed well for the last few weeks and has extended to the last swing high. Currently, it is in the supply zone, and for the last three times, the price has dropped from this zone and melted by approximately 30%.
From the last week of February, the CEL crypto price has been in a bullish trend and has risen by 50%. The CEL token price has surpassed the 200-Day moving average and triggered a pullback. The price has been facing resistance from the $0.300 mark so buyers need to wait for the price to dominate this level and a genuine breakout.
The CEL token price reached the $0.300 hurdle in December but was not able to sustain. It made another attempt to sustain this mark but sellers were strong enough and dragged down the price by 36% to reach $0.175.
The current market price of Celsius is $0.290 and the fully diluted market cap is $202 Million. The market capitalization is $69.44 Million and the 24-hour trading volume is $2.20 Million with a gain of 25%.
RSI is at 79 and staying in the overbought zone so here selling signal can be generated in a few days. A bullish crossover has been generated between the 20 and 200-Day moving averages which highlights the buyers’ strength.
Technical Analysis of Celsius Over Daily Timeframe
After a bearish phase in January, the CEL crypto price managed to defend the $0.175 mark. Furthermore, it triggered a pullback and the price rose to the resistance level of $0.300.
According to the technical chart, the Celsius price has surged by 22% in just 2 days highlighting buyer dominance but it is near the supply zone. If the price faces resistance from this level and engulfs the previous candlestick, then short-term profit booking can be expected and it may easily drop to the support level of $0.175.
Alternatively, if the CEL price surpasses the supply zone and sustains, then according to the technical chart, the buyers will wait for a pullback to lead the trend. But if the price extends to $0.360 and holds, then buyers may look for the $0.500 mark.
CEL Price Prediction on 4-H Timeframe
In a 4-H time frame, the Celsius price has witnessed strong buying pressure after the pullback and has risen by 28%. It has extended a lot after the pullback and a retracement can be expected.
According to the wider chart, the price may face resistance from the $0.300 mark, and short-term profit booking could be observed. But if the price triggers a pullback and surpasses the recent high, then the buyer may lead the trend for the next few days.
Conclusion
On a wider time frame, the Celsius token price has been in a bearish trend but in the short term, bulls are in control. According to the technical chart, the price may face resistance from the supply zone of $0.300 and melt by approximately 30%. But in another scenario, if it surpasses the $0.300 mark and sustains, then buyers may dominate and lift the price to the $0.500 level.
Technical Levels
Resistance Levels: $0.300 & $0.360
Support Levels: $0.235 & $0.185
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.