Crypto Technical Analysis

Celer Network(CELR)/USDT Technical Analysis: CELR Price Initiates a Flip, Will it be Sustained?

Celer Technical Analysis

Key Takeaways

  • The CELR price closed the previous day trade at $0.04338 with a market capitalization of $269.07 million and a circulating supply of 6.52B CELR
  • The asset after hitting the monthly lows around $0.0308 quickly flipped and currently attempting a 35% upswing at the earliest
  • Despite an attempt to flip front he bullish divergence, yet the selling volume failed to accumulate, hence possessing extreme bullish momentum

Celer Network(CELR)/USDT Technical Analysis at a Glance

Short-Term The CELR price is currently consolidating after surging since the last trading day. However, after a minor accumulation, the uptrend may continue 
Mid-Term The asset is possessing an extreme bullish momentum as the uptrend currently remains unstoppable until surging another 20%
Long-Term A notable bullish signal pops up and hence manifesting a notable uptrend in the upcoming days

Technical Indicators & Pivot Levels

Technical Indicators

Technical Indicators Value(1Hr / 1D) Action (1Hr / 1D)
Relative Strength Index(RSI) 65.95 / 46.11 Buy / Neutral
MACD(12,26) 0.001 / -0.004 Buy / Sell
Average Directional Index(ADX) 27.67 / 24.922 Buy / Neutral
Bull-Bear Power 0.0022 / 0.0013 Buy / Buy

The RSI in the short-term is surging towards the overbought levels, hence displaying huge bullish momentum. While in the long-term is hovering close to middle levels and could flip depending on the volume accumulated. On the other hand, the MACD is extremely bullish in the STF where-in there is currently no room for the seller to drag the price down. While the ADX, the strength indicator is pretty bullish in the short term and neutral in the long term. Also, the bulls are strong currently and the bears still remain distinct from the rally.

Additional Reads: What is Celer Network?

Pivot Levels

Pivot Levels Short-Term Long-term
Moving Average(MA)-50 $0.04080 $0.05525
Moving Average(MA)-200 $0.03893 $0.08768
Resistance $0.05378 $0.09332
Support $0.03615 $0.01982

The current price of CELR has just surpassed the 50-day and 200-day MA levels in the short term, while a little distinct from the crucial resistance levels. As the bullish momentum is kept intact, the asset could continue to range high to eventually hit the 50-day and 200-day MA levels in the long term. Yet the support levels are not very close to the current price and no strong possibility of revisiting lower support is seen at the moment. 

Oscillators

Oscillators Short-Term Long-Term
Stochastic Oscillator 20.908 55.88
Ultimate Oscillator 71.26 56.5
Average True Range(ATR) 0.0009 0.0045
CCI 106.39 17.6

The Stochastic Oscillator that records the average value of the asset in a specified time frame is bullish indicating the price is surging high to surpass the average levels. On the other hand, Ultimate Oscillator considers 3 different MA levels to determine the next move of the asset. It is also extremely bullish in both in STF but has hit the overbought area in the HTF, hence a possibility of a slight pullback is high. Yet the asset is currently less volatile as ATR is indicating so. And the CCI which detects the trend reversals and new trends is bullish currently but neutral in the long term. 

Additional Reads: Top Crypto News Today, 1 March 2022

CELR /USDT Technical-Analysis for Short-Term

Source: Tradingview

  • The CELR after a strong flip from the previous month’s lows quickly gained huge bullish momentum.
  • Currently, the price is swinging within a rising channel but not a rising wedge. And hence very less chance of a pullback is witnessed
  • However, if in case the asset gets exhausted, the price may retest the local support close to $0.04241 and ignite a notable flip to the local resistance at $0.04715
  • The channel is not squeezing and hence manifesting a strong bullish momentum to carry forward with an uptrend
  • However, despite hitting the higher levels beyond $0.09, the asset is still within the bearish trap and a significant jump beyond $0.1 may validate an uptrend.

Additional Reads: LUNA vs MATIC: Comparative Analysis

CELR/USDT Technical-Analysis for Long-Term

Source: Tradingview

  • The CELR price since it smashed the highs in the first few days of October, is swinging within a descending parallel channel
  • No doubt the price slipped below the levels but quickly regained the levels within the channel yet again.
  • However, at present, the asset is hovering along with the middle bands of the channel, decreasing the volatility to increase the strength.
  • Therefore, a small flip from the middle levels may easily uplift the price close to the upper bands, yet could face another rejection as the local resistance also collide at these levels
  • After a short-term rejection, the asset may flip strongly to head towards the next levels. 

Celer Network (CELR)/USDT Technical-Analysis for Today: 24 February 2022

The Celer Network price consolidated for a while at $0.037 for a couple of hours, before it broke out strongly to hit levels being $0.048. Currently, the price is consolidating very hard after the spike and with very little fluctuation, the asset is trying to sustain at gained levels. However, a strong uptrend appears to be pretty significant for the asset as the buying volume has risen notably. And hence even if the price witnessed a pullback, it may not plunge with a large magnitude. 

The CELR price at the press time is around $0.04405 with a huge jump of 14.07% compared to the previous day’s close. The trading volume has surged magnificently by more than 31% and the market capitalization also has surged more than 14%.

Where & How to Buy Celer Network (CELR coin)

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To register here, all you need to do is download the CoinDCX App on your smartphone and enter the required details. Once the platform verifies your data, then you need to fund your wallet by transferring funds and purchasing your desired crypto.


Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information, or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment, or tax advice by the reader. The calculations, data, risk-return formulations, performance, or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors, or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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