Celo Price Prediction for Today, August 3: CELO/USD Moves to Touch $0.56 Resistance

Updated: 18 August 2023

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The Celo price prediction may continue to show a bullish movement if the market could stable above the moving averages.

Celo Prediction Statistics Data:

Celo price now – $0.51
Celo market cap – $262 million
Celo circulating supply – 508.4 million
Celo total supply – 1 billion
Celo Coinmarketcap ranking – #116

CELO/USD Market

Key Levels:

Resistance levels: $0.65, $0.70, $0.75

Support levels: $0.40, $0.35, $0.30

Celo Price Prediction for Today, August 3: CELO/USD Moves to Touch $0.56 Resistance — CELOUSD – Daily Chart

CELO/USD is showing positive movement as the market price crosses above the 9-day and 21-day moving averages. Apart from this, the Celo price still needs to move near the upper boundary of the channel so that the traders can expect the continuation of the bullish movement.

Celo Price Prediction: Celo (CELO) Will Shoot to the North

The daily chart shows that the Celo price is attempting to create a new positive trend, and traders may expect a bullish continuation toward the upper boundary of the channel which could test the resistance level of $0.60. Similarly, the technical indicator reveals Relative Strength Index (14) is moving above the 50-level, and crossing above this barrier may locate the potential resistance levels at $0.65, $0.70, and $0.75 in the long term.

Moreover, if the Celo price continues the rising channel pattern, traders may witness additional bullish trends in the coming trading sessions. Meanwhile, a bearish breakdown may likely play out for this market if the Celo price withdraws back below the 9-day and 2-day moving averages, and this could roll the coin back to the long-term supports at $0.40, $0.35, and $0.30.

Against Bitcoin, the Celo price follows the bullish movement as the coin moves to the upside. However, if the coin crosses above the upper boundary of the channel, the market is likely to keep releasing more bullish pressure as the technical indicator Relative Strength Index (14) moves to cross above the 60-level, which indicates that more bullish signals are likely to play out.

In other words, if CELO/BTC falls and slides toward the lower boundary of the channel, it may bring the coin to the nearest support at 1500 SAT, and any further bearish movement could lower the price to the support level of 1400 SAT and below. Nevertheless, if the coin continues to follow a bullish movement and heads to the upside, traders could see a bull run to the resistance level of 2200 SAT and above.

Celo Alternatives

The Celo price may need to cross above the 9-day and 21-day moving averages to confirm the bullish trend and may need to stay there to create additional gains. Meanwhile, if the sellers step into the market, traders could experience a very strong support at $0.45; this could then be followed up with another support at $0.40.

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