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CEL Technical Analysis: Bulls Push the Price to $0.9355

Analytics

cryptoknowmics.com 05 July 2022 19:01, UTC
  
Reading time: ~2 m

Key Technical point

  • Celsius is on a bullish trend
  • The RSI is currently at 54.09
  • CEL has traded as low as $0.8787 and as high as $1.1057

Celsius Past Performance

Celsius has traded as low as $0.8787 and as high as $1.1057. It has a market capitalization of $635,893,140, and $19,000,973 worth of CEL has been traded on exchanges in the last 24 hours. From 4th May 2022 to mid-May, Celsius has experienced a persistent downward trend. Looking at the candlesticks, we can see that on 4th May the opening price is  $2.164, and the closing price is $0.684.

 Source: Trading View

CEL Technical Analysis

The CEL technical analysis shows that the coin is currently in a bullish trend. CEL  is currently trading at $0.9355, a price upsurge of 5.07% in the last 24 hours. The moving averages show a similar story with the 50-day MA being crossed over by the 200-day MA from below. This is called a “Golden Cross” and is considered a bullish signal. The RSI indicator is currently at 54 which is in the middle of the neutral zone. In the MACD histogram, there is a formation of short green bars, hence, this reveals a bullish trend. The next support levels are at $0.8787 and $0.8276 while the resistance levels are at $1.1057 and $1.2155. The Bollinger bands show that the CEL prices are currently trading close to the upper band which is a bullish signal. while the MACD line is seen crossing the signal line in an upward movement which is a bullish sign. Out of the 26 technical indicators 11 show a buy signal, 9 show a hold signal, and 2 show a sell signal. The moving averages show 10 buy signals and 1 hold while the Oscillators show 1 buy signal, 8 holds, and 2 sell signals. The coin is in a bullish trend as seen by all the indicators. Hence, the support levels are at $0.8787 and $0.8276 while the resistance levels are at $1.1057 and $1.2155.

Upcoming Trend

The price of CEL will continue to rise in the near future as seen by the technical indicators. The next support levels are at $0.8787 and $0.8276 while the resistance levels are at $1.1057 and $1.2155. Investors are advised to buy the coin at the current prices and hold for the short to medium-term.

Conclusion

The CEL technical analysis shows that the coin is in a bullish trend in the short-term with all indicators giving a buy signal except for 2.  Support levels are at $0.8787 and $0.8276 while the resistance levels are at $1.1057 and $1.2155


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