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Price Analysis: CEL Surges Slightly, but It Is Far Away From Upticks

Analytics

coinquora.com 17 June 2022 15:18, UTC
  
Reading time: ~2 m

The recent shattering of the crypto market has again put the coins in vain. With the BTC trend down swinging, almost all the cryptocurrencies are plunging in very large variations. However, there is a slight relaxation, since the coins are flashing green. Celsius (CEL) coin is also indicating a hike, with a quite different trading graph from other coins.

From its all-time high of $9.25, CEL has steeply declined to $0.52, its lowest price as of now. The coin tapped its ATH in May 2021. Currently, CEL trades at $0.646, with a spike of 20.2% in the past 24 hours. However, this is a slight surge from the past day’s price. 

After the downtrend of the crypto market in May, CEL surged with frequent ups and downs. But on June 13, the market again plunged, making the price of the coin worse.

Contrastingly, on June 14, CEL bounced back to surge high at $1.55. This price is near its resistance level of $2.17. Importantly, this surge is unique since the majority of other coins did not meet any green signals on the same day.

CEL/USDT- 1-Day Tradich Chart (Source: TradingView)

On the next day, CEL price dipped even further, making no highest price tick on June 16. Looking more into the price background, CEL had been falling since December 2021, and again marked another downtick in April and May 2022. The CEL trading graph clearly shows that the coin is marking a repeated downtick at one point and falls steeply until the next weak point.

As shown in the graph, throughout these downtrends, the coin has fallen from $4.72 to    $0.67. Looking at its $4.4 support level, the coin has broken this level on October 30, 2021. However, CEL overtook the support level at the last of 2021. Later on, it dipped to the worst stages.

Notably, CEL might surge more apart from the current spiking level if it crosses its unique hype on June 14. Moreso, the crypto market must turn bullish to make the coins including CEL for further boost.


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