Celsius Price Analysis: CEL Coin Trading Inside a Rising Wedge, What the Bullish Move!

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  • Cel­sius price is inclin­ing through a ris­ing wedge over the dai­ly price chart.
  • The cryp­to asset has recov­ered above 20 and 50 EMA how­ev­er, it is try­ing to ral­ly above 100 and 200-days Dai­ly Mov­ing Average.
  • The pair of CEL/BTC is at 0.00005087 BTC with an intra­day drop of 19.79%.

Cel­sius price is try­ing to main­tain its strong uptrend momen­tum inside the ris­ing wedge pat­tern over the dai­ly price chart. As bit­coin, the great­est denom­i­na­tor of the cryp­tocur­ren­cy mar­ket has slumped again towards $20000 and strug­gles to sus­tain above the psy­cho­log­i­cal lev­el of $20000. In con­trast, oth­er alt­coins were also going through a great recov­ery phase as BTC recov­ered above $20000. How­ev­er, alt­coins now fal­ter to sus­tain at the respec­tive lev­els where they stand and they may fall any­time soon. CEL coin is also try­ing to sus­tain at the cur­rent lev­el as it looks like it is los­ing its uptrend momen­tum with a trend reversal.

Cel­sius price is present­ly CMP at $1.015 and has lost 21% of its mar­ket cap­i­tal­iza­tion in the last 24-hour peri­od. How­ev­er, trad­ing vol­ume has increased by 30.58% in the intra­day trad­ing ses­sion. This shows that CEL buy­ers are still involved in the trade and they are try­ing to main­tain the CEL coin’s posi­tion. Vol­ume to mar­ket cap ratio is 0.2913.

CEL coin price is try­ing to main­tain its uptrend momen­tum by sus­tain­ing at the cur­rent lev­el. How­ev­er, the token is fac­ing peer sell­ing pres­sure as BTC is also slip­ping and affect­ing neg­a­tive­ly to all oth­er alt­coins. CEL coin must attract more buy­ers in order to sus­tain at the cur­rent lev­el. How­ev­er, vol­ume change can be seen below aver­age and needs to grow for CEL to main­tain itself at the cur­rent level.

Sup­port on the low­er end is at $0.50 and resis­tance on the high­er side is at $1.50.

Will CEL Gather More Buyers? 

CEL coin price is try­ing to main­tain itself at the cur­rent lev­el and is fal­ter­ing in gain­ing sup­port from the buy­ers at the moment. The token must attract more buy­ers in order to sus­tain at the cur­rent lev­el. CEL investors need to wait as the token is fac­ing peer sell­off and they can expect any direc­tion­al change at any moment now. Tech­ni­cal indi­ca­tors sug­gest the uptrend momen­tum of CEL Coin. More­over, supertrend con­firms the bull­ish momen­tum of the CEL coin inside the ris­ing wedge pattern.

Rel­a­tive Strength Index show­cas­es that CEL is return­ing from being over­bought. RSI is at 57 and CEL investors can observe the trend rever­sal by the CEL coin. MACD exhibits the uptrend momen­tum of CEL coin. How­ev­er, the MACD line is approach­ing the sig­nal line to reg­is­ter a neg­a­tive crossover. 

Conclusion         

Cel­sius price is try­ing to main­tain its strong uptrend momen­tum inside the ris­ing wedge pat­tern over the dai­ly price chart. As bit­coin, the great­est denom­i­na­tor of the cryp­tocur­ren­cy mar­ket has slumped again towards $20000 and strug­gles to sus­tain above the psy­cho­log­i­cal lev­el of $20000. vol­ume change can be seen below aver­age and needs to grow for CEL to main­tain itself at the cur­rent lev­el. CEL investors need to wait as the token is fac­ing peer sell­off and they can expect any direc­tion­al change at any moment now.

Technical Levels

Sup­port Lev­el: $0.50 

Resis­tance Lev­el: $1.50

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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