CEL Price Analysis: Celsius proves to be the knight in the shining armor
- CEL/USD is currently priced at $0.75 and has increased by 27.26% over the past day
- The technical indicators suggest a positive outlook for the near term
- The trading volumes have increased by a massive 142.75% over the past day
Short Term View: Celsius Token shows increased bullish commitment
The Celsius price today is $0.754917 USD with a 24-hour trading volume of $19,318,006 USD. Celsius Token is up 27.26% in the last 24 hours. The trading volumes have increased manifolds over the past day whereas the Volume to Market Cap Ratio stands at 0.1071 for the altcoin.
Amid the turbulence going on in the market, Celsius Token has proved to be an anomaly as it continues its rise. After showing strength recently, the altcoin will be looking to make a run for important resistance located at $0.85. As is demonstrated by the altcoin trading above the 20,50 SMA on the four hour chart, Celsius will be looking to make a rally to the upside. The short term moving average (20 SMA) has recently moved past the 200 SMA which lends credence to the bullish stance. On the flip side, the support for Celsius resides at $0.60 in the event of the bears staging a comeback.
Long Term View for Celsius Token
The RSI slope (49.20) for Celsius is heading towards bullish territory and looks poised to move above the 14-day average line as a result of the price action of the past few days. This indicates aggressive buying taking place in the market. As the MACD is a lagging indicator, the histograms are gaining strength and are about to turn green on the daily chart. Moreover,the MACD and signal lines are about to venture into the positive territory as well.
Conclusion
Celsius Token is witnessing a surge in buying pressure that has contributed to its bullish rally. Furthermore, Celsius price has moved above the 200-day SMA which provides a strong base for the altcoin to continue with the uptrend.
Support: $0.60-$0.50
Resistance: $0.85-$1
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.
