The Celo Price Prediction: Bullish Movement Expected
The Celo price is showing positive movement as it crosses above the moving averages, indicating a potential bullish trend. Here are the key points to consider:
- Celo’s current price is $0.51 with a market cap of $262 million.
- The circulating supply of Celo is 508.4 million out of a total supply of 1 billion.
- CELO is ranked #116 on Coinmarketcap.
- The resistance levels for CELO/USD are $0.65, $0.70, and $0.75.
- The support levels for CELO/USD are $0.40, $0.35, and $0.30.
Celo Price Prediction: Positive Trend Expected
Based on the daily chart, the Celo price is attempting to create a new positive trend. Traders can expect a continuation of the bullish movement towards the upper boundary of the channel, with a potential resistance level of $0.60. The Relative Strength Index (14) is also moving above the 50-level, indicating potential resistance levels at $0.65, $0.70, and $0.75 in the long term.
If the bullish trend continues, additional bullish trends may occur in the coming trading sessions. However, a bearish breakdown may happen if the price falls below the moving averages, leading to long-term supports at $0.40, $0.35, and $0.30.
CELO/BTC: Bullish Movement Expected
Against Bitcoin, the Celo price is following a bullish movement. If the price crosses above the upper boundary of the channel, more bullish pressure is likely. The Relative Strength Index (14) moving above the 60-level further supports this bullish outlook.
If CELO/BTC falls towards the lower boundary of the channel, it may find support at 1500 SAT, with further support at 1400 SAT and below. On the upside, a bull run could take the price to the resistance level of 2200 SAT and above.
Celo Alternatives and Airdrop Campaign
To confirm the bullish trend, Celo’s price needs to cross above the moving averages and stay there. In case of a market correction, strong support can be expected at $0.45 and $0.40.
As part of their marketing strategy, the Celo team has launched an airdrop campaign for presale supporters, offering a total of $50,000 worth of $WSM tokens split among five lucky winners. The ongoing presale has already raised almost $21 million for the $WSM token.
Hot Take: The Celo price is showing positive signs for a bullish movement, with potential resistance levels at $0.65, $0.70, and $0.75. Traders should keep an eye on the moving averages and the upper boundary of the channel for confirmation of the positive trend.
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