Celo Price Analysis: Will CELO maintain above $0.68


  • Celo’s EMA(10) shows a downward trend.
  • Celo(CELO) records downward movement today.
  • CELO has its next resistance at $0.80.
  • 24-hour trading volume for Celo is hovering at $14,514,766.00.

08 December 2022 : 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 $841,153,811,989. The total trading volume stands at $36,964,374,603. Bitcoin shares 38.52 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $16,850.70 level after a decline of -1.38%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -3.02 percent reaching to $1,232.28 during the previous 24 hours.
While publishing this blog, BNB traded at $284.31, following a price change of -2.04%within the same time frame. XRP the native coin of XRP is down by -1.94 and currently trading at $0.38. Additionally, Dogecoin reached $0.096 after seeing a decline of -4.4% 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 $0.59, down -6.58% in the past 24-hours and has a price change of -2.04% over the week. One day trading volume for BTC is 14,514,766.00 USD while total marketcap reached $283,032,225.00 USD. There are almost 478,832,129 are in circulation out of 1000000000.

Celo Price Analysis

CELO price analysis for 08 December 2022 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. The coin is going down as it break below two crucial support levels of $0.68 and $0.62. The market is not suitable for bulls and bears might take CELO towards the next support at $0.57. 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 not doing well and is trading in reddish zone. In order to invest in the digital currency, crypto investors want to see the CELO move into the positive zone. 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.