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Celo Price Prediction for Today, January 16: CELO/USD Shows Positive Signs Above $0.75

Celo Price Prediction for Today, January 16: CELO/USD Shows Positive Signs Above $0.75
Celo Price Prediction for Today, January 16: CELO/USD Shows Positive Signs Above $0.75

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The Celo price prediction shows that CELO is attempting to cross above the upper boundary of the channel to increase the bullish movement.

Celo Price Statistics Data:

  • Celo price now – $0.75
  • Celo market cap – $355.5 billion
  • Celo circulating supply – 483.2 million
  • Celo total supply – 1 billion
  • Celo Coinmarketcap ranking – #93

CELO/USD Market

Key Levels:

Resistance levels: $0.90, $0.95, $1.00

Support levels: $0.50, $0.45, $0.40

Celo Price Prediction for Today, January 16: CELO/USD Shows Positive Signs Above $0.75
CELOUSD – Daily Chart

CELO/USD peaks at $0.79 today, after which the coin retreats to trade at $0.75. Meanwhile, the price not touching the resistance level of $0.80 may ruin the long-term technical picture of the coin. 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 while the closest support expects the coin at $0.70, which could be a daily low.

Celo Price Prediction: Celo Likely to Hit $0.80 High

At the time of writing, the Celo price is likely to trend to the upside. However, the movement above the upper boundary of the channel may likely push the coin to the resistance levels of $0.90, $0.95, and $1.00. On the downside, a bearish movement below the 9-day and 21-day moving averages could stop the initial upward movement and create bearish momentum with the focus to bring the market to the next support levels of $0.50, $0.45, and $0.40 respectively.

At the moment, the technical indicator Relative Strength Index (14) moves into the overbought region, which indicates that the market may continue to follow an uptrend. Looking at the daily chart, the 9-day moving average remains above the 21-day moving average which could allow the buyers to concentrate on stirring action to the north.

Against Bitcoin, the Celo price is rising above the 9-day and 21-day moving averages. Meanwhile, following the recent positive sign, the CELO price may go down if the sellers sustain the pressure further. However, if the bears break below the lower boundary of the channel, the market price could reach the support level at 2600 SAT and below.

CELOBTC – Daily Chart

In other words, a positive move could allow the coin to go near the upper boundary of the channel and could hit the resistance level of 4300 SAT and above. The technical indicator Relative Strength Index (14) is likely to cross above the 70-level which could boost the bullish movement.

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