- Celsius price is inclining through a rising wedge over the daily price chart.
- The crypto asset has recovered above 20 and 50 EMA however, it is trying to rally above 100 and 200-days Daily Moving Average.
- The pair of CEL/BTC is at 0.00005087 BTC with an intraday drop of 19.79%.
Celsius price is trying to maintain its strong uptrend momentum inside the rising wedge pattern over the daily price chart. As bitcoin, the greatest denominator of the cryptocurrency market has slumped again towards $20000 and struggles to sustain above the psychological level of $20000. In contrast, other altcoins were also going through a great recovery phase as BTC recovered above $20000. However, altcoins now falter to sustain at the respective levels where they stand and they may fall anytime soon. CEL coin is also trying to sustain at the current level as it looks like it is losing its uptrend momentum with a trend reversal.
Celsius price is presently CMP at $1.015 and has lost 21% of its market capitalization in the last 24-hour period. However, trading volume has increased by 30.58% in the intraday trading session. This shows that CEL buyers are still involved in the trade and they are trying to maintain the CEL coin’s position. Volume to market cap ratio is 0.2913.
CEL coin price is trying to maintain its uptrend momentum by sustaining at the current level. However, the token is facing peer selling pressure as BTC is also slipping and affecting negatively to all other altcoins. CEL coin must attract more buyers in order to sustain at the current level. However, volume change can be seen below average and needs to grow for CEL to maintain itself at the current level.
Support on the lower end is at $0.50 and resistance on the higher side is at $1.50.
Will CEL Gather More Buyers?
CEL coin price is trying to maintain itself at the current level and is faltering in gaining support from the buyers at the moment. The token must attract more buyers in order to sustain at the current level. CEL investors need to wait as the token is facing peer selloff and they can expect any directional change at any moment now. Technical indicators suggest the uptrend momentum of CEL Coin. Moreover, supertrend confirms the bullish momentum of the CEL coin inside the rising wedge pattern.
Relative Strength Index showcases that CEL is returning from being overbought. RSI is at 57 and CEL investors can observe the trend reversal by the CEL coin. MACD exhibits the uptrend momentum of CEL coin. However, the MACD line is approaching the signal line to register a negative crossover.
Conclusion
Celsius price is trying to maintain its strong uptrend momentum inside the rising wedge pattern over the daily price chart. As bitcoin, the greatest denominator of the cryptocurrency market has slumped again towards $20000 and struggles to sustain above the psychological level of $20000. volume change can be seen below average and needs to grow for CEL to maintain itself at the current level. CEL investors need to wait as the token is facing peer selloff and they can expect any directional change at any moment now.
Technical Levels
Support Level: $0.50
Resistance Level: $1.50
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
