Celo price prediction for today, December 18 – CELO technical analysis

Celo price prediction shows that CELO may renew its bullish trend after testing the $0.58 support level today.

Celo Forecast Statistical Data:

• Current price – $0.60
• Celo market capitalization – $312.7 million
• Celo Circulation Volume – 521.5 million units
• Celo total supply – 1 billion
• Even Coinmarketcap ranking – #145

EVEN/USD Market

Main level:

Resistance levels: $0.70, $0.75, $0.80

Support levels: $0.50, $0.45, $0.40

CELO/USD is hovering around $0.60 after hitting a daily high of $0.62. Celo price is currently changing hands above the 9-day and 21-day moving averages, but is up slightly by 1.05% since the start of the session. Despite the recovery, the coin is still hovering below $0.65 per day.

Celo Price Prediction: Celo price could be bullish.

According to the daily chart, Celo price is moving towards the resistance level of $0.65 as an initial move towards the upper boundary of the channel could push the price further higher. Celo (CELO) hit a daily high of $0.62 before pulling back to where it is currently trading. Looking above, we could see a further bullish move if Celo price moves near the upper boundary of the channel and the nearest resistance level is at $0.65.

However, traders can see that the daily movement remains in the hands of the bulls and the 9-day moving average continues to hover above the 21-day moving average. Meanwhile, a breakout on the positive side is likely to push the coin towards potential resistance levels of $0.70, $0.75 and $0.80, while a drop below the lower boundary of the channel could lead to support at $0.50, $0.45 and $0.40 respectively. .

Above CELO/BTC range

Compared to Bitcoin, Celo price appears to be moving sideways above its 9- and 21-day moving averages. After the coin hit a daily high at 1488 SAT today, the coin later retreated to where it is currently trading. Meanwhile, prices continue to move sideways as buyers can put pressure on the market.

Additionally, if sellers return to the market, Celo price may fall to support below 1120 SAT. The 9-day moving average may now surpass the 21-day moving average. This is because the market could make the next positive move upwards and the resistance level could be located above 1800 SAT.

Alternatives to Celo

Celo price is currently showing a bullish movement and a further upward trend is expected as long as the coin stays above the 9-day and 21-day moving averages. A continued potential crossover of the 9-day moving average above the 21-day moving average would likely send a strong bullish signal, creating an encouraging market environment for increased buyer participation.

Nonetheless, Celo (CELO) currently ranks 145th in the cryptocurrency market with a market capitalization of $315 million, which suggests its importance is limited due to its already significant market cap. Meanwhile, Bitcoin Minetrix, an emerging token that raised nearly $5.5 million in the pre-sale phase, is noted for its significant growth potential and is attracting the attention of potential buyers in the evolving cryptocurrency landscape.

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