- Celo price is trading with strong uptrend momentum inside the horizontal range-bound area over the daily price chart.
- CELO crypto is trying to recover till 20 EMA and is aiming for 50, 100 and 200-days Daily Moving Average.
- The pair of CELO/BTC is at 0.00004616 BTC with an intraday gain of 4.02%.
On the daily price chart, the Celo price is making a steady uptrend momentum recovery effort. In order to break out of the consolidation period over the chart, the token must amass buyers. The higher trendline of the horizontal range-bound area is where CELO currency is attempting to rise. Despite being the most dominant currency, BTC is still below the $20,000 threshold. To break through the consolidation phase and emerge victorious from its own ruins, CELO must keep up this upward pace. Between $0.75 and $1.00, CELO has been consolidating in the interim. However, this time CELO bulls look determined to let the token surge out of the consolidation phase, registering its recovery above $1.00 psychological level.
The estimated price of celo is currently $0.91, and in the previous day, its market capitalization increased by 5.71%. The intraday trading session saw a notable spike in trading volume of 107%. This suggests that buyers are actively participating and pushing CELO in the direction of the upper trendline. The volume to market cap ratio is 0.06689.
CELO coin price is trying to recover itself out of the horizontal range-bound area over the daily price chart. The token must attract more buyers in order to escape the pattern. However, volume change can be seen below average and needs to grow for CELO to register its breakout. CELO has been trading below $1.00 since the bearish rally of June 2022 and has been consolidating in the range of $0.75 and $1.00 since then. The token is trying to put efforts all together to register its recovery phase over the daily price chart.
CELO fighting for its Existence
CELO coin price is trying to escape the consolidation phase is is currently trading with strong uptrend momentum. CELO bulls need to sustain at the verge of the consolidation phase to let the token surge out of the horizontal range-bound area. The token is currently struggling for its existence to surge above $1.00 and avoid falling more towards the lower levels.
Technical indicators suggest the uptrend momentum of CELO coin. Relative Strength Index showcases the sideways momentum of CELO coin inside the consolidation phase. RSI is at 42 and is below neutrality, trying to reach it to register the token’s recovery phase. MACD exhibits the uptrend momentum of CELO coin. The MACD line is ahead of the signal line and is approaching towards 0 to enter the positive zone.
Conclusion
On the daily price chart, the Celo price is making a steady uptrend momentum recovery effort. In order to break out of the consolidation period over the chart, the token must amass buyers. The higher trendline of the horizontal range-bound area is where CELO currency is attempting to rise. However, volume change can be seen below average and needs to grow for CELO to register its breakout. CELO has been trading below $1.00 since the bearish rally of June 2022 and has been consolidating in the range of $0.75 and $1.00 since then. The token is trying to put efforts all together to register its recovery phase over the daily price chart. Technical indicators suggest the uptrend momentum of CELO coin. The MACD line is ahead of the signal line and is approaching towards 0 to enter the positive zone.
Technical Levels
Support Level: $0.75
Resistance Level: $1.00
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.
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