Celo Price Prediction for Today, August 24

Celo Price Prediction for Today, August 24 – CELO Technical Analysis

Updated: 24 August 2023

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The Celo price prediction shows that CELO may be facing another bearish run which could lead to the support level of $0.40.

Celo Prediction Statistics Data:

Celo price now – $0.42
Celo market cap – $215.2 million
Celo circulating supply – 508.4 million
Celo total supply – 1 billion
Celo Coinmarketcap ranking – #123

CELO/USD Market

Key Levels:

Resistance levels: $0.55, $0.60, $0.65

Support levels: $0.30, $0.25, $0.20

Celo Price Prediction for Today, August 24 - CELO Technical Analysis — CELOUSD – Daily Chart

CELO/USD is trading below the 9-day and 21-day moving averages as the coin could slide to the downside. However, the traders could see that bears are stepping back into the market and the Celo price is likely to lose momentum below the lower boundary of the channel.

Celo Price Prediction: CELO/USD Might Go Down

The Celo price is moving sideways at the moment as the bears could take charge of the market. Meanwhile, a bullish cross above the 9-day and 21-day moving averages is needed for the coin to correct the immediate bearish pressure and take the coin back on the recovery trend. Once it is out of the way, the upside is likely to gain traction with the next focus at the resistance levels of $0.55, $0.60, and $0.65.

However, on the downside, once the support level of $0.40 is broken, the sell-off could gain traction with the next focus at the nearest support level of $0.37, which could be followed by the nearest support level of $0.35. Therefore, if these levels are broken, the downside pressure may increase and the next supports could be located at $0.30, $0.25, and $0.20 while the technical indicator Relative Strength Index (14) moves below the 40-level.

CELO/BTC May Risk Fresh Support

Against Bitcoin, the Celo (CELO) is range-bounding as revealed by the technical indicator Relative Strength Index (14). The coin continues to move within the 9-day and 21-day moving averages as a low swing could bring CELO/BTC to the support level of 1300 SAT and below.

On the other hand, a rebound may occur if the buyers could push the coin toward the upper boundary of the channel which may cause the coin to hit the potential resistance level of 2000 SAT and above.

Alternatives to Celo

The Celo price is seen moving in a narrow trading range after the bullish rally failed to materialize. The early daily rally toward the $0.43 level failed to generate sustainable gains, with CELO/USD slowly climbing toward the 9-day moving average. However, the longer that the Celo price fails to rally from current trading levels, the greater the chance that we may see the coin falling to a new monthly trading low.

Meanwhile, with the presale nearing its conclusion, the stage is set for Wall Street Memes (WSM) to carry this momentum into its official launch phase. As the token regains momentum, it has rapidly garnered attention from investors after raising over $25 million.

New OKX Listing - Wall Street Memes

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