Celo Price Analysis: Will CELO maintain above $0.68


  • Celo’s EMA(10) shows a downward trend.
  • Celo(CELO) records upswings today.
  • CELO has its next resistance at $0.80.
  • 24-hour trading volume for Celo is hovering at $214,072,980.00.

26 April 2024 : In this article we will walk you through Celo price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Celo, Is CELO a good investment? Celo support & resistance levels etc. But before diving deep into the CELO technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,337,980,442,173. The total trading volume stands at $71,411,442,036. Bitcoin shares 53.38 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $63,396.83 level after a decline of -0.73%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -1.47 percent reaching to $3,104.74 during the previous 24 hours.
While publishing this blog, BNB traded at $598.01, following a price change of -1.95%within the same time frame. SOL the native coin of Solana is down by -2.75 and currently trading at $142.63. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Celo Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Celo (CELO)

CELO Resistance Levels CELO Support Levels
Resistance Level 1 $0.80 Support Level 1 $0.68
Resistance Level 2 $0.85 Support Level 2 $0.62
Resistance Level 3 $0.91 Support Level 3 $0.57

Celo Performance

The price of Celo (CELO) is at $0.63, up 16.92% in the past 24-hours and has a price change of 35.52% over the week. One day trading volume for BTC is 214,072,980.00 USD while total marketcap reached $320,452,527.00 USD. There are almost 505,091,663 are in circulation out of 1000000000.

Celo Price Analysis

CELO price analysis for 26 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Celo.

Moving Averages Price Indicator
Simple Moving Average (10) 0.75 Sell
Exponential Moving Average (10) 0.75 Sell
Simple Moving Average (20) 0.77 Sell
Exponential Moving Average (20) 0.77 Sell
Simple Moving Average (50) 0.79 Sell
Exponential Moving Average (50) 0.79 Sell

The MACD line is standing below of the signal line after a crossover. Celo investors need to wait for any directional change over the daily chart. RSI implying near oversold phase while trading at 38 and is trying to break out of the bearish zone. Celo is moving in downward direction as bears successfully take the coin below immediate support level of $0.68. Now CELO should find a support at $0.62 or else the sellers could then target the crucial support level placed at $0.91. While CELO’s Williams %R indicator is at -32.576 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

As of now, Celo is doing well and is attempting to break out of the reddish zone. In order to invest in the digital currency, crypto investors want to see the CELO move into the positive zone. As far as we can tell, Celo is on its way up. In 2022 and beyond, the Celo price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.