Celo Price Prediction for Today, June 2: CELO/USD Bulls Could Target $0.60 Level

Updated: 02 June 2023

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The Celo price prediction shows that CELO is likely to break above the $0.55 barrier as the coin faces the upper boundary of the channel.

Celo Prediction Statistics Data:

Celo price now – $0.53
Celo market cap – $270.4 million
Celo circulating supply – 501.7 million
Celo total supply – 1 billion
Celo Coinmarketcap ranking – #115

CELO/USD Market

Key Levels:

Resistance levels: $0.65, $0.70, $0.75

Support levels: $0.42, $0.37, $0.32

Celo Price Prediction for Today, June 2: CELO/USD Bulls Could Target $0.60 Level — CELOUSD – Daily Chart

CELO/USD is seen refreshing to a new high after touching the daily low of $0.52 to touch the daily high at $0.54 while currently trading at $0.53 with a bullish crossover above the 9-day and 21-day moving averages. Meanwhile, the bulls may intend to increase buying pressure if the market price touches the resistance level of $0.60.

Celo Price Prediction: Would CELO Price Push Higher?

The Celo price can only gain more uptrends if the coin stays above the 9-day and 21-day moving averages. At the moment, the technical indicator Relative Strength index (14) is moving to cross above the 50-level by sending bullish signals into the market which could encourage more buyers to enter the market.

Meanwhile, if the red line of 9-day MA crosses above the green line of 21-day MA, the coin may continue to do well and the Celo price may reach the upper boundary of the channel which could hit the resistance levels at $0.65, $0.70, and $0.75 respectively. On the contrary, if the technical indicator decides to make a quick turn and faces the lower boundary of the channel, there may be a quick bearish drop toward the support levels at $0.42, $0.37, and $0.32 respectively.

Against Bitcoin, the Celo price is likely to create additional gains if the bulls increase the buying pressure. Meanwhile, the technical indicator Relative Strength Index (14) moves above the 50-level. Nonetheless, for the fact that the 9-day MA remains below the 21-day MA, the market price is likely to move bearishly.

However, the daily chart reveals that the potential resistance level could be located at 2400 SAT and above if the buyers increase the buying pressure, but a lower sustainable move may cancel the bullish pattern, which could attract new sellers coming into the market with the next focus on the support level of 1600 SAT and below.

Alternatives to Celo

At the time of writing, the Celo price is likely to trend to the upside. As a result, a retracement could be probable before breaking the $0.70 level to the upside. However, the Celo price will have to stay above the 9-day and 21-day moving averages in other to guide against the downward pressure. Meanwhile, one of the exciting things about the Wall Street Memes project is its tokenomics. This means that the project could have more sustainable price action post-launch, as investors’ profits will vary. Moreover, WSM tokens are in presale, time is running out as almost $3 million has been raised so far.

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