With the general crypto market making a slow recovery, the Celo token has seen an additional price increase of just 2.40%. Meanwhile, price action in this market stays generally below some important technical levels. Let’s dive in deeper below for more insight into the market.
Celo Statistics
Current Price: $0.1713
Market Capitalization: $103.22M
Circulating Supply: 586.79M
Total Supply: 1B
CoinMarketCap Rank: 273
Key Levels
Resistance: $0.2000, $0.2500, $0.3000
Support: $0.1700, $0.1500, $0.1250
Celo Nears a Key Threshold
As the CELO/USDT market continues to see a modest price increase since its upward rebound, price activity lately can be seen edging toward the 9-day Exponential Moving Average (EMA) line.
At the same time, the Stochastic Relative Strength Index (SRSI) indicator lines are also rising upward from the oversold zone of the indicator. The terminal of the indicator can be seen poking through the 20 threshold level. With the last price candle testing the 9-day EMA curve, bullish momentum may grow stronger.
CELO Keeps a Slight Upward Trajectory
Coming to a Celo market chart of 4 hours reveals a more steady flow of price activity. Here, price action can be seen above the 9-day EMA curve as opposed to the daily chart. Albeit, it appears that price action has registered a slight downward deflection in the ongoing session.
Despite this, price activity remains above the 9-day EMA curve. Meanwhile, the SRSI curve has risen into the overbought region, and the terminal part of the indicator lines is dropping toward the 80 mark of the indicator. Consequently, this hints that the market may see a short-term pullback toward the $0.1700 price level. Afterwards, price action may continue toward the $0.2000 price level.
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