Celsius Price Analysis: CEL looks positive for near future?


  • CEL/USD pair trading below EMA(20).
  • Celsius price analysis is bullish today.
  • CEL/USD medium term support stood at $0.73.
  • 24-hour trading volume for Celsius is hovering at $7,338,969.00.

20 April 2024 : In this article we will walk you through Celsius price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Celsius, Is CEL a good investment? Celsius support & resistance levels etc. But before diving deep into the CEL 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 $2,330,852,016,686. The total trading volume stands at $68,663,536,801. Bitcoin shares 53.97 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $63,943.02 level after a decline of -1.56%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -1.41 percent reaching to $3,062.01 during the previous 24 hours.
While publishing this blog, BNB traded at $558.80, following a price change of -0.52%within the same time frame. SOL the native coin of Solana is down by -1.24 and currently trading at $142.96. 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.

Celsius 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 Celsius (CEL)

CEL Resistance Levels CEL Support Levels
Resistance Level 1 $1.13 Support Level 1 $0.86
Resistance Level 2 $1.27 Support Level 2 $0.73
Resistance Level 3 $1.40 Support Level 3 $0.59

Celsius Performance

The current Celsius price is $0.98, with a trading volume of $7,338,969.00 in the past 24-hours. Currently, CEL is up by 2.25% since yesterday with a market capitalization of $235,147,536.00 USD.

Celsius Price Analysis

CEL price analysis for 20 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 Celsius.

Moving Averages Price Indicator
Simple Moving Average (10) 0.99 Sell
Exponential Moving Average (10) 0.99 Sell
Simple Moving Average (20) 1.15 Sell
Exponential Moving Average (20) 1.13 Sell
Simple Moving Average (50) 1.34 Sell
Exponential Moving Average (50) 1.33 Sell

The CEL/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market. The Relative strength index (RSI) for CEL Coin is currently hovering at 27 for 14-days average line, which means CEL is in oversold zone and a trend reversal is possible. While CEL’s Williams %R indicator is at -77.711 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The first support level for Celsius is at $0.86 while the second one is at $0.73. While taking about resistance the CEL has R1 and R2 at $1.13, $1.27 respectively.

Conclusions

Celsius market shows a bullish signs, and bulls can push CEL higher in the coming sessions. CEL has a resistance at $1.13, beyond which the coin would move toward next crucial resistance at $1.27.