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The price of the Celo Market on November 7 is $0.762. This price level was the point at which the market had a bearish breakout which lasted for two days. With a new support price level forming at $0.42 the bearish move was cut short. But, the resistance level shifted to $0.51 and becomes a brick wall for the bulls market. Also because of few trading activities, the bullish price seems pegged at around the current price.
Celo Market Price Statistic:
- CELO/USD price now: $0.67
- CELO/USD market cap: $312,767,553
- CELO/USD circulating supply:473,376,178.00
- CELO/USD total supply: 1,000,000,000
- CELO/USD coin market ranking: #93
Key Levels
- Resistance: $0.70, $0.75, $0.80
- Support: $0.50, $0.45, $0.40
Celo Market Price Analysis: The Indicators’ Point of View
The buyers now have turned the resistance to a support level from which we see the massive bullish move. Although in today’s trading activities, we see more buying than selling, the market cannot yet be referred to as a bullish one. This is because the direction of the Bollinger has not yet changed to the upside, even though the price action is now well above the 20-day moving average. Also in the MACD, we now have a bullish crossover below the indicator’s zero level. But, the lines of the MACD indicator need to cross out of the negative zone before the market can well be regarded as bullish.
CELO/USD 4-Hour Chart Outlook
Looking at the market from the 4-hour point of view, the day’s market so far has been bullish. But in the third session, the volatility of the market also increases with the bullish activities. With this kind of bullish move in the market, we should expect a price retracement as most traders who have bought and held the crypto for some time may want to go short on their position.
After some period of indecision, the Celo is taking up an upside-moving trend. A new platform now needs to be well-developed to help traders reduce loss. The FTX disaster shows that there is a need for a cutting-edge, innovative platform that can detect disasters that are similar to FTX/FTT, and enable speculators to pinpoint safer trading signals that will ensure huge returns. The platform is Dash 2 Trade (D2T), whose presale is currently ongoing. The presale has realized about $7.5 million. D2T affiliate program is also open to all. You can earn your share of the revenue by using the Dash 2 Trade referral links!
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